Comment on Visa’s New Fraud Protection System Detects Credit Card User’s Risk At The Gas Pump

Visa’s New Fraud Protection System Detects Credit Card User’s Risk At The Gas Pump

(dennis mancini) This year credit card companies have sought out ways to make credit card use safer and more secure for consumers. While we’re still waiting for the widespread implementation of chip-and-pin cards, Visa is attempting to tackle fraud at one of its more common sources: the gas pump. Visa announced new software intended to protect consumers and gas stations by trying to detect the likelihood that someone is using a stolen, lost or counterfeit credit card to fill up, The Washington Post reports. Visa Transaction Advisor, which is already in use at 25,000 service stations, analyzes 500 pieces of data that have already been collected about cardholders, such as location and past transaction history, to create a risk score between

 

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