Empower Cardholders, Lower Fraud Rates, Increase Card Use
Want to provide tools that will make cardholders more comfortable with card use? Would more active cardholders increase your card portfolio value?
To increase value of their card portfolios, issuers must lower fraud rates as well as provide value-added services to their cardholders. By empowering cardholders with the means to control when, where and how their cards are used, issuers can not only achieve these goals but also increase the level of engagement they have with their customers.
Ondot's CardAlert services give cardholders the tools to control when, where and how their cards are used. Utilizing the Ondot card services platform's intelligent service-oriented architecture, CardAlert allows cardholders to set unique parameters for each of their cards that will trigger alerts according to location, transaction type, merchant type, the number of transactions made within a specific timeframe, the amount of a transaction and when an account balance associated with a card drops below a certain level.
The Power of CardAlerts
The Ondot card services platform monitors all ISO 8583 request and response messages without impacting the amount of time required to complete a transaction. Transactions initiated by cardholders using CardAlert features are evaluated by their preferences, location, and purchase history. If the settings made by the cardholder are triggered, alerts are initiated and the cardholder provided with actionable notifications even before a transaction is completed.
Comprehensive Set of Alerting Options
CardAlert from Ondot gives cardholders control of the circumstances under which their cards can be used. This increases card use, digital engagement, and the number of active card users. Built to utilize the full power of the Ondot card services platform, CardAlert complements existing fraud scoring systems to stop fraud in flight. These benefits make Ondot's platform and extensive set of service modules the market leader, powering over 80 percent of card services transactions in the United States.