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Though debit cards have become a popular payment method for many U.S. consumers, misconceptions about debit card security have prompted electronic funds transfer network Pulse to create a Web site that explains in depth how debit works. Launched in October, debitfacts.org is an extension of the information and resources Pulse has provided to its 4,500 financial institutions and their customers over the years, according to Cindy Ballard, Pulse executive vice president. "One of the reasons why we launched it was really to provide balanced, fact-based debit card information to the consumer and become a trusted resource for consumers about debit," Ballard tells CardLine sister publication ATM&Debit News. Bruce Cundiff, director of payments research and consulting for Pleasanton, Calif.-based Javelin Strategy & Research, contributes an article to the site discussing debit card security and how mainstream-media coverage often misleads consumers about debit card fraud. Pulse will use other industry experts to contribute content to the Web site, Ballard says. Debitfacts.org offers visitors several different sections relating to debit card use and security. One section provides information about debit card liability and explains the Electronic Fund Transfer Act. This section lays out what cardholders are responsible for if their debit card is lost or stolen. Another section explains how the payments industry fights fraud through technology developments and the creation of the Payment Card Industry Data Security Standard.
