Credit Card Companies

About

EchoAlert Credit Card Fraud Aid

EchoAlert is a patent pending mobile check-in and alert system which has been built to create an extra level of security for credit card users. It helps a credit card company to quickly determine whether a card has been used fraudulently in order to prevent an inaccurate 'hold' being placed on credit card use.

The system leverages mobile phone messaging technology to check-in quickly with a credit card user in the event that the credit card company's computer system detects a possible fraudulent use of a credit card. The card owner can simply respond to the request with their PIN number to indicate whether or not they used the card in question. If the card owner does not respond within a few minutes, or responds that they did not use their card in the manner indicated, EchoAlert will notify the credit card company to continue with the 'hold' on the card.

How It Works:

1. The credit card company's computer algorithm detects a possible fraudulent card use.
   
   
2. The same system triggers the EchoAlert system to send a message to the card's owner asking if they used the card at x time and y place.
   
   
3. The card owner either answers affirmatively with their PIN, in which case the company is notified not to put a 'hold' on the card, or
   
   
4. The card owner answers negatively, or doesn't answer at all, in which case the card company is notified immediately to proceed with the hold.

The system can prevent some of the major headaches often encountered by credit card owners and credit card companies, including:

• Reduction of call center involvement and cost
• Reduction of customer inconvenience
• Reduction of 'lost' transactions that occur when a card is placed on hold