The following is excerpted from a February 26, 2009 press release that appeared at PR Newswire:
Charge Notification Services Corporation (C.N.S.C.) has filed a lawsuit against VISA, Inc. for patent infringement. C.N.S.C. is a relatively young company in Miami, Florida, that offers information processing services to credit card issuing banks. The C.N.S.C. patent covers charge card transaction authorization and/or notification in real-time via SMS to the cardholder's cellular phone. VISA and some of their bank partners have recently been offering this service.
"In these economically troubled times people want to use their cards (debit, pre-paid, credit card and charge) and receive real-time information about charges to their account. If cardholders have to wait until they receive their statement to discover possible merchant errors or duplications, it's already too late to avoid the complex and time-consuming process of 'charge-back' that costs cardholders and businesses time, resources and aggravation. Of course what cardholders want most of all is to be confident that their card account will not be used fraudulently. All indicators show that card fraud activity is expected to increase even further..."
See the full press release here.