Wouldn’t it be nice if we didn’t have to worry about fraudsters and scammers? Unfortunately, card fraud remains a significant concern and members must be protected using modern, sophisticated, accessible methods. In the payments space, security will always be a top priority for both credit unions and their members.

Both payment methods and fraud tools continue to evolve rapidly. CardValet®, available through our partnership with Fiserv, is no exception and is committed to expanding the features available to members. It remains a top weapon in preventing card fraud and financial losses. The easy-to-use app empowers members to control their cards using their mobile devices—anytime, anywhere. Members can turn cards on or off, control transactions by category or dollar amount, and set alerts based on criteria set by the member (such as transaction amount, merchant type, or location). Cardholders also can receive a prompt notification if a transaction is denied.

“CardValet is invaluable to credit unions and members alike,” shared Karen Martin, Product Owner – Payments for Synergent. “Cardholders are more engaged, fraud is reduced, and revenue increased. It’s a great tool for individuals, but also for businesses who, for example, can set limits to control employee spending, or for parents to set card spending limits for dependents.”

New Feature: Travel Notice

Since CardValet was introduced, new features and enhancements continue to be developed and rolled out to meet member demand and to provide the best possible security in the current payments space.

After a year of limited travel, many members may have their eyes on taking a trip, whether it is a long overdue vacation or a business trip to reconnect with clients. Travel Notice, which is already available through CardValet’s mobile app, is another convenient way members can control their cards. Members can easily create a travel plan exemption 24/7/365, eliminating the need to contact the credit union and reducing the chance of card declines during travel.

“Card declines are triggered to ultimately protect the member from fraud, but they can be an inconvenience during a trip,” explained Martin. “Often members don’t think to contact their credit union before a trip, then get frustrated when their card is declined, requiring a call while they are away. This feature in CardValet provides convenience and saves time for both the member and credit union staff.”

Learn More

Travel Notice is an add-on feature that is currently available. Download the complete product sheet for more information about the features and benefits of CardValet.

If you have additional questions, please contact your Account Relationship Manager, or email ARM@synergentcorp.com.