Visa USA has launched its Internet payment authentication process, 'Verified by Visa', to consumers in a bid to offer greater online security for credit and debit card payments during the seasonal shopping season.
The new Verified by Visa service enables participating card issuing banks to validate a cardholder's identity through the use of a password during the online checkout process.
Consumers can register with participating card issuing banks for personalised passwords or through Visa's Web site. After creating their passwords, Visa cardholders can use the service to shop at any participating online stores. After hitting the "buy" button, cardholders will be prompted for their Verified by Visa passwords to confirm their identities with their card issuing banks, before completing the online transaction.
Todd Penner, online marketing director for Dell's Consumer Group, a participating online retailer, says: "Consumers want to know their online purchases are secure and getting that security should not be an inconvenience...That's why we're supporting Verified by Visa. It's easy to use; our customers just type in a password. Greater consumer confidence in e-commerce ultimately means increased online sales."
Initial participation in the programme includes a number of major banks and online retailers, with more expected to sign up in the coming months. The consumer rollout of Verified by Visa will include print, television and online advertising, as well as consumer education efforts with participating banks.