News and resources on cyber and physical threats to banks and fintechs worldwide.

TD give credit cardholders app-based security controls

Source: TD Bank

TD announced today the launch of new card control features on all TD Visa consumer credit cards, including a first-in-Canada ability that gives TD credit cardholders the ability to temporarily block their Canadian credit cards from any in-person international charges through the TD mobile banking app.

"Card controls can help our customers feel confident that their credit cards won't be misused, while also minimizing the inconvenience of cancelling or replacing a card if it's temporarily misplaced," says Katy Boshart, SVP, Canadian Credit Cards, TD. "In addition, our new international block feature provides even greater security – giving TD credit card holders the ability to prevent unauthorized access to their card at international, in-person points of sale, providing additional peace of mind."

In addition to the new international block capability, TD consumer credit cardholders can also take advantage of the card lock feature, allowing them to temporarily block access to their account, eliminating the stress customers may feel when they can't immediately locate their credit card. When the card is locked, cardholders cannot make new purchases or pay using their digital wallet, while pre-authorized payments and pre-authorized charges will still go through. When the card is located, the temporary lock can be easily removed, saving customers the time and inconvenience of reporting their misplaced card as lost or stolen.

Card controls are available on all TD Visa consumer credit cards and can be accessed through the TD (Canada) mobile app, which is ranked #1 in customer engagement among retail banking apps in Canada, according to Silicon Valley-based app analytics and market data firm, App Annie, with the largest average smartphone monthly active user base (MAU), the highest average sessions per user and the highest time spent for the past 12 months.i

"As technology continues to evolve and our customers look for digitally enabled experiences, we continually think about how we can help customers live their lives in a more convenient and meaningful way," said Rizwan Khalfan, Chief Digital and Payments Officer, TD Bank Group. "Card controls are part of our multi-layered approach to security that puts customers' trust at the centre, helping them feel more confident and in control of their banking."

In addition to credit card controls, TD offers customers a variety of other fraud prevention tools. TD customers can sign up for TD Fraud Alerts and receive notification via text if TD detects suspicious account activity. Money management tools like the TD MySpend app provide notifications of account activity in real time, so customers can recognize any unusual transactions quickly. 

Comments: (0)