Business

Visa Wants to Make it Even Harder for Thieves to Buy Gas with Your Credit Card

A man at a gas station is shown. (AP Photo)
A man at a gas station is shown. (AP Photo)

 

(The Washington Post) – Gas stations are among the easiest places for crooks to use stolen credit cards. Pumps are usually unattended, so all the thieves have to do is swipe your plastic to fill up their tanks.

Now Visa is rolling out software to detect whether it’s you or someone pretending to be you filling up on fuel. Roughly 25,000 gas stations have already signed on, with Chevron, an early test case, reporting a 23 percent drop in fraud at the pump.

So, how does it work?

The software analyzes 500 pieces of data, including location and past transactions, in less than a second. Based on that data, the software creates a risk score on a scale from zero to 99. The higher the score, the higher the risk that the card in use is stolen. Each gas station gets to set a risk threshold, say 50 on that zero-to-99 scale. If your card generates a risk score that exceeds the threshold, a message will flash at the pump for you to see the attendant inside the station.

READ MORE

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Back to top button

My News Matters to me - Washington Informer Donations

Be a Part of The Washington Informer Legacy

A donation of your choice empowers our journalists to continue the work to better inform, educate and empower you through technology and resources that you use.

Click Here Today to Support Black Press and be a part of the Legacy!

Subscribe today for free and be the first to have news and information delivered directly to your inbox.

Select list(s) to subscribe to


By submitting this form, you are consenting to receive marketing emails from: Washington Informer Newspaper, 3117 Martin Luther King Jr. Ave SE, Washington, DC, 20032, http://www.washingtoninformer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Adblock Detected

Please consider supporting us by disabling your ad blocker