Visa information product provides powerful online fraud detection while
minimizing friction for eCommerce transactions
SAN FRANCISCO, Nov. 26, 2012 /CNW/ - Visa Inc. (NYSE: V) today announced a new
solution in its information products line up to help issuers reduce the risk
of eCommerce fraud using real-time, risk-based transaction analysis. Called
the Visa Consumer Authentication Service, the solution is designed to
seamlessly support an issuer's Three Domain Secure (3-D Secure) program such
as Verified by Visa and is available in all Visa Inc. markets immediately.
Visa Consumer Authentication Service authenticates the consumer prior to the
authorization process, adding a powerful layer of protection against fraud. As
the consumer begins the online checkout process, the solution performs a
real-time risk assessment of the transaction based on numerous inputs
including device and transaction information and historical spending patterns.
The result is that issuers can complete lower risk eCommerce transactions
without requiring consumers to go through the extra step of entering their
passwords or other verification. The solution minimizes disruption and
abandonment at the point of purchase, while also helping issuers and merchants
reduce fraud losses.
"As more Canadians head online during the busy holiday shopping season, Visa
is adding an extra layer of security to online transactions with the launch of
Visa Consumer Authentication Service," Shirley Matthew, head of product
platforms, Visa Canada. "Visa's network intelligence is at the centre of this
solution, helping us deliver security benefits to consumers, merchants and our
financial institution clients. For consumers, the Verified by Visa
authentication experience will be streamlined, since only the riskiest
transactions are prompted for verification."
Visa Consumer Authentication Service is a hosted access control server that
provides issuers with the following capabilities:
Sophisticated risk-based authentication. Visa Consumer Authentication
Service's risk-scoring model takes into account enhanced inputs, including
critical information about the device, transaction information and spending
profiles. This data will enhance issuers' decision-making ability to identify
potential fraud and prompt for verification only when necessary.
Dynamic methods of authentication. Visa Consumer Authentication Service
supports a wide range of account holder authentication methods. This means
higher-risk transactions may be verified by the issuer in a variety of ways
including more secure, dynamic methods such as one-time passwords or hardware
Support for mobile. Visa Consumer Authentication Service can be integrated to
function through a range of devices including mobile phones and tablets, to
ensure consumers have a secure, efficient and reliable payment experience when
shopping through another channel beyond the PC.
Rules for strategy refinement. Visa Consumer Authentication Service provides
issuers with the tools to write additional rules to further refine risk
To learn more about Visa Consumer Authentication Service or to sign up,
issuers should contact their Account Executive.
Visa is a global payments technology company that connects consumers,
businesses, financial institutions and governments in more than 200 countries
and territories to fast, secure and reliable electronic payments. We operate
one of the world's most advanced processing networks—VisaNet—that is
capable of handling more than 24,000 transaction messages a second, with fraud
protection for consumers and guaranteed payment for merchants. Visa is not a
bank and does not issue cards, extend credit or set rates and fees for
consumers.Visa's innovations, however, enable its financial institution
customers to offer consumers more choices: pay now with debit, ahead of time
with prepaid or later with credit products. For more information, visit
Sofia Mata-Leclerc Visa Inc. Tel: +1 650 432 2990 E-mail:firstname.lastname@example.org
Carla Hindman Visa Canada Tel: +1 416 860 8869 Email:email@example.com
SOURCE: VISA Canada Corporation
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CO: VISA Canada Corporation
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-0- Nov/26/2012 17:00 GMT
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