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Businesses can get access to consumers' new credt card numbers
Reissuance of card numbers to combat identity theft, heavy promotion of no-fee balance transfers from one card to another, and bank mergers has led to consumers' credit-card accounts changing more rapidly than ever. According to recent figures released by Visa USA, more than 55 percent of Visa cards changed their account details in 2003. So, where does that leave businesses? Itmanagement.earthweb.com reports:
Even if your business does manage to gain authorization from your customers to automatically charge their credit cards, the majority of your customers' cards will cease to be auto-billable only one year later. Credit-card issuers in the U.S. have recently come up with a novel solution, however. Almost any business that asks for it can now learn a consumer's new credit-card account number -- whenever it may have changed.
Read more: Get Consumers' New Credit-Card Numbers
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