Originally Posted by JTC

I'm currently in South Korea and over here they have quite a neat system that makes sense.

Basically every time a charge is run through your credit card you get an SMS sent to your cell phone.

So if you get the SMS you call back instantly and they can cancel the charge or contact the vendor.

It gives the consumer confidence that no one is accessing their card, can be implemented over the internet and isn't too intrusive (ie - an sms is not hard to delete)

And also if you're married it gives you a way to monitor your wife's spending as it happens. haha

There's stories here of it helping to actually catch people being fraudulent. So someone is using a card illegally, the real person gets an SMS, calls Visa or whoever who then phones the shop and they catch the guy. Don't know what a shop keeper does but surely the theif would be pretty embarrased