Visa Launches Enhanced Authentication for E-Commerce
Nov. 27, 2012
Visa yesterday launched a new authentication service for credit- and debit-card issuers it said will reduce e-commerce fraud. Visa Consumer Authentication Service leverages information about the device making an online transaction, transactional information from issuers and historical spending patterns of the consumer to generate a risk assessment of a particular transaction. Also, it supports dynamic methods such as one-time passwords or hardware tokens so higher-risk transactions may be verified by the issuer in a variety of ways. Visa Consumer Authentication Service is designed to work with 3D-Secure services like Verified by Visa, according to Shirley Matthew, head of product platforms for Visa Canada.
“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.”
The service is now available in all markets Visa serves.