November 27, 2012 – Visa Inc. 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.
„Cyber Monday is the day when consumers traditionally begin searching the Internet for holiday gifts and sales. Coinciding with this busy online shopping period, Visa is launching Visa Consumer Authentication Service, providing an extra layer of protection to online transactions,” said Silvio Tavares, head of global information products for Visa Inc. „This solution is another example of how we use Visa’s network intelligence to create tangible value for merchants and our financial institution clients. Because the solution only prompts consumers for verification of the riskiest transactions, most consumers will have a streamlined authentication process when using Verified by Visa.”
Visa Consumer Authentication Service is a hosted access control server that provides issuers with the following capabilities:
Source: Visa Inc.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: