Visa security programme puts onus on issuers

Visa security programme puts onus on issuers

As part of an initiative to increase consumer confidence and merchant profitability on the Internet, Visa is introducing a Global Data Security Website for merchants and new operating policies that extend consumer protections on the Internet. The programme places a greater onus on bank card issuers to assume responsibility for disputed transactions.

The new global merchant Web site provides tools for merchants in meeting expanded data protection standards for how Visa account information is stored and protected on merchant sites. In the future, the site will also include a global directory of security vendors that can assist merchants with meeting Visa standards.

The global Web site complements and extends a similar facility for US Web merchants maintained by Visa USA, and leverages many of the best practices pioneered in the States.

The new consumer protection policies adopted by the Visa International board in October set global disclosure standards for Web merchants. The new policies require Web retailers to prominently display their privacy policy and on-line security capabilities.

"These are practices that have been followed by leading Web merchants for some time and we feel it's important to extend these standards to all of our merchants globally," says Philip Yen, executive vice president, Visa International.

The consumer protection policies also state that in the event of a valid transaction dispute, when the cardholder has made every effort to settle the dispute with the Web merchant but is still not satisfied, the card issuer must provide a refund.

Visa's Secure e-Commerce Initiative was launched in July with the creation of the Payment Authentication Programme and the Global Data Security Programme. The Payment Authentication Programme is based on a new "3-Domain" model and provides a global approach to authentication - ensuring the parties involved in an Internet transaction are legitimate. The Global Data Security Programme established standards and best practices for e-commerce merchants allowing them to better ensure the security of cardholder data on their sites.

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