23 July 2017
Download the paper now.

Visa explores compulsory VbV registration

07 January 2005  |  6656 views  |  0 mac in chains

Card association Visa is exploring the possibility of forcing consumers to use Verified by Visa authentication services when performing high-risk transactions online.

In an interview with Internet Retailer, Brad Nightengale, who heads Visa USA’s department of emerging products, says the firm is exploring the possibility of introducing software that would rate the risk level of a particular cardholder transaction at the point of check-out. Transactions considered high-risk could then be refused by card issuers unless the cardholder signed up for the VbV password-based authentication programme.

Visa and MasterCard have spent the past two years building a critical mass of card issuers and merchant-accepting locations for their online authentication programmes. Visa reported a 200% increase in online transactions using Verified by Visa authentication technology for the quarter ending September 2004, compared to the same period last year. In addition, total VbV card volume for the first nine months of 2004 was $5.4 billion.

Separately, Visa is facing a patent infringement lawsuit lodged by starpay and Vimachine over the payment authentication technology. Earlier this week, US courts rejected only four of the 28 claims lodged against Visa by the companies, a ruling which starpay welcomed as positive.

Marc Messner, president of starpay, states: "We believe we are well positioned to move the case toward trial."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

US regulator urges banks to upgrade Internet security

US regulator urges banks to upgrade Internet security

15 December 2004  |  8060 views  |  0 comments
Visa talks up authentication technology ahead of holiday season

Visa talks up authentication technology ahead of holiday season

26 October 2004  |  5162 views  |  0 comments
Mobey Forum and Visa Europe demonstrate mobile authentication

Mobey Forum and Visa Europe demonstrate mobile authentication

21 September 2004  |  6846 views  |  0 comments
MasterCard releases SecureCode stats

MasterCard releases SecureCode stats

14 November 2003  |  5023 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.finastra.comvisit www.worldpaymentsreport.comvisit www.ncr.com

Top topics

Most viewed Most shared
German fintech factory FinLeap raises EUR39 millionGerman fintech factory FinLeap raises EUR3...
13843 views comments | 19 tweets | 15 linkedin
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
10078 views comments | 14 tweets | 20 linkedin
Barclays rides payments-as-a-service wave with investment in Form3Barclays rides payments-as-a-service wave...
8996 views comments | 16 tweets | 12 linkedin
Mastercard and Scotiabank join Enterprise Ethereum AllianceMastercard and Scotiabank join Enterprise...
7598 views comments | 25 tweets | 16 linkedin
PayPal strikes deals with Chase and CitiPayPal strikes deals with Chase and Citi
6802 views comments | 9 tweets | 5 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...
London

Find your next job