Eight banks and Visa have teamed up to create a trial of a new early warning system that will alert card holders via real time text message anytime there is a transaction on their Visa account. The test will be conducted with up to 2,000 card holders. Participating banks include PNC Bank, SunTrust Bank, U.S. Bank, Wachovia, and Wells Fargo in the United States, and Royal Bank of Canada, TD Bank Financial Group, and Vancity in Canada. Customers will be allowed to set amounts that will trigger the text messages on certain types of transactions. Visa began experimenting with the mobile platform in 2007 hosting an internal trial using their employees as participants.
{Visa}
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