Bank of America has extended its Verified by Visa authentication service to allow customers to shop securely online using their debit cards.
The Verified by Visa service has been rolled out to the bank's 17 million Visa cheque-card holders. The Visa authentication service was initially launched by the bank in December 2001 for credit cards only.
Bank of America's Verified by Visa service uses Cyota's SecureVbV product to verify a card holder's identity through the use of a password. Results are then passed to the merchant in real-time during the virtual checkout process.