Everyones done it—cancelled a misplaced card, only to find it a few hours later. But once done, a cancelled card can’t be undone. So, your customer waits to receive a new card, while you incur the cost of card reissuance, forego interchange revenue and hope your customer doesn’t find another card in his/her wallet more convenient or redirect all those revenue-generating recurring payments.
Galileo Temporary Card Freeze avoids all these negative outcomes by enabling customers to quickly suspend the use of a misplaced card or one that might have fallen into the wrong hands. Using a mobile app, their tablet or computer, customers can block their misplaced card from being used for new purchases, cash advances and transfers. And, should they locate their cards, customer can just as easily “unfreeze” them and resume their usual activity.
Galileo Temporary Card Freeze is good for your customers and good for you, too:
Give Customers Control of Their Cards
Customers feel safer when they can control their cards—freezing and unfreezing access easily whenever they need to.
Avoid Fraud Losses
Customers can freeze their cards the instant they notice a problem, reducing the opportunity for cards to be used fraudulently.
Reduce Card Reissuance Costs
Many “lost” cards really aren’t lost, only temporarily misplaced. Galileo Temporary Card Freeze avoids the reissuing costs associated with cards that aren’t really lost.
Reduce chance of your customer developing other card habits.
Temporary Card Freeze: Galileo does that!