Visa Announces Improved Payment Card Fraud Detection

             Visa Announces Improved Payment Card Fraud Detection

Enhanced Authorization Technology Improves Security for Consumers While
Reducing Fraud for Retailers and Financial Institutions

PR Newswire

WASHINGTON, Oct. 2, 2013

WASHINGTON, Oct. 2, 2013 /PRNewswire/ -- Visa Global Security Summit -- Visa
Inc. (NYSE: V) today announced a series of enhancements to Visa's Advanced
Authorization (VAA) technology that significantly improve the ability of its
global processing network to detect potential electronic payments fraud.

Financial institutions can use the information to more reliably know which
transactions to decline in real time, potentially reducing fraud by billions
per year, while more confidently approving legitimate transactions to remove
friction from payments for merchants and consumers alike.

"Cardholders, merchants and issuers all want to have confidence in the
convenience and the security of every Visa transaction," said Mark Nelsen,
Head of Risk and Authentication Products, Visa Inc. "The great improvements
we've made in Advanced Authorization this year were designed to do just that:
fight fraud and its costs to financial institutions and merchants, while also
ensuring legitimate transactions are handled with the speed and convenience
that consumers and merchants want."

Visa has increased the breadth of each account profile in the Advanced
Authorization model by adding more transactional history data, along with
additional neural networks to analyze that data. The account profile is a
major component of the risk score assigned to a given transaction and provided
to the issuer for them to make an authorization decision. The result is more
robust performance and improvement of as much as 130% in detecting fraud in
debit transactions and 175% for credit transactions.

The enhanced model includes additional risk indicators specific to Automated
Fuel Dispensers (AFD) transactions. Visa's network now can pinpoint suspicious
activity at a gas station and apply that to all transactions processed through
that station. The model also uses account velocity at AFDs compared to that
account's normal behavior in the score determination. This can potentially
increase the effectiveness of fraud detection in this segment by as much as
266% for debit transactions and 163% in credit.

The VAA improvements offer the potential to substantially reduce fraud in both
transactions where the physical Visa card is present, such as a retail store,
as well as in "card not present" environments such as online shopping. The
improvements are effective for both consumer and commercial accounts and

About Visa Inc.:
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 30,000 transaction messages a second, with fraud
protection for consumers and assured 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

SOURCE Visa Inc.

Contact: Sandra Chu, Visa Inc., +1 650-432-1217, Email:
Press spacebar to pause and continue. Press esc to stop.