Visa Card Offers Merchants More Secure Online Transactions

2007-03-08 10:33:40

( Financial )



To address your concerns as a merchant about Internet security, Visa Card offers a different way to secure your creditcard deals, especially if your customer buys from you online. In essence, the Visa authentication system password-protects the customer's Visa card. These secure-transaction Visa Card offers require that everyone directly involved in credit card transactions enroll in the service: the customer, you, the customer's issuer bank and the merchant's acquirer bank.

You may enroll in the service through your participating acquirer bank, while your customer may enroll with the issuer bank or with you at the time of purchase. Otherwise, Visa will process the credit card transactions as conventional transactions.

To implement the system, you must install Visa-supplied software to activate a cardholder interface. This module prompts the customer to enter the password; alternatively, you may have to ask your customer to insert the card into a reader and enter a personal code.

With this system, Visa card offers to everyone the security of all their transactions over the Internet. You will also be assured that the purchase is legitimate. For merchants, specifically, Visa card offers an excellent form of protection since you actually get some form of insurance coverage if fraud does occur. The system Visa card offers also protects you from fraud-related charge-backs.

However, not everything is protected, so make sure you review the details of the program. For instance, the system will not include split shipments or back-ordered goods, or one-click technology sales; in short, the system will disallow those transactions in which the consumer's identification cannot be authenticated.

You should be aware, though, that some consumers may be legitimate even if they can't authenticate. Some examples of reasons why good customers may not be able to authenticate include: the use of software that prevents pop-up windows which may cause the Visa system's pop-up to time out.


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