Wells Fargo adds Verified by Visa authentication to online payments system

Wells Fargo adds Verified by Visa authentication to online payments system

Wells Fargo has added the Verified by Visa authentication service to its Global Payment Gateway, a payments processing system for online merchants.

The Verified by Visa scheme requires consumers to enter a password when shopping online.

Debra Rossi, executive vice president of Business Internet Services at Wells Fargo, says the top 'point of pain' among Internet merchants surveyed are fraudulent chargebacks, when the cardholder does not make the purchase.

"By integrating Verified by Visa into our Global Payment Gateway, businesses can now significantly reduce their chargebacks, saving them time and money," says Rossi.

The Wells Fargo Global Payment Gateway provides merchants with an integrated transaction, reporting and management system that provides authorisation and settlement in international currencies, processing of e-cheques and fraud prevention functions.

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