O2 have created a new service that is designed to combat international card fraud
Mobile network operator O2 and credit card issuer MBNA have partnered together to trial a new service designed to help fight against credit and debit card fraud - helping thousands of customers in the process.
The new service called 'Travel Alert' has been designed so that a UK cardholder’s mobile network will notify a bank when a user is abroad. This new action is set to reduce a customer's card being wrongly declined when overseas and is also designed to help reduce fraud.
Worryingly in 2014 alone the amount of fraud committed on UK-issued cards abroad increased by 23% to £150m, a third of UK debit and credit card frauds in total.
O2 head of global product development Glyn Povah has said, "We’re really looking forward to Travel Alerts being available to everyone. This new technology will help take the hassle out of accessing our money overseas so we can get on with enjoying our time away."
MBNA head of mobile and digital Phil Weston also commented on the new service saying, "We’re always looking for new ways to innovate and make processes easier for our customers. We’re delighted with the results from the Travel Alerts trial we’re running with O2."
Weston also said that, "By using their mobile phone to update us in real time, customers no longer have to contact us each time they travel, and they’re less likely to be inconvenienced when using their card abroad. We look forward to rolling Travel Alerts out to all customers in the near future."