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>It would be trivial for Visa to notice an account suddenly starts making purchases from out of the country, or exceeded some threshold of declines, etc. But, t

>It would be trivial for Visa to notice an account suddenly starts making purchases from out of the country, or exceeded some threshold of declines, etc. But, they don't care. I've had CC companies send me fraud alerts plenty of times and have had them block payments automatically as well. So please don't make straw man argument. Moreover, what I love when I go on a vacation to a foreign country is having my credit card stop working and trying to figure out how to make an international phone call to get it fixed. Credit card companies value improved customer experience over catching some larger percentage of fraud.

Alupis 6y ago
> So please don't make straw man argument. Your anecdata doesn't coincide with reality. Maybe your card company does - probably issued through a bank - but most people's don't, and Visa/Amex proper, etc certainly do not. You would be surprised by the number of fraudulent orders that are placed on major ecommerce sites daily. It's up to the ecommerce site to detect the fraud, and hopefully refund the order in full before a chargeback hits. Visa literally has all the transaction data for all issued Visa accounts. They can stop fraud dead, if they had a financial interest in doing so. As-is, they (and their issuers/gateways/processors) actually profit off fraud, via the chargeback fee. The millions of accounts Krebs mentions in the article? Did they all get fraud alerts when the "carding" transaction was processed on their card... to verify it was a live account and had available balance? Nope.
carstenhag 6y ago
In Europe there are many banks where you can use their app to enable or disable countries, online payments, ATM withdrawals and sometimes even NFC payments of a specific card. Works super great!