European retailers adopt Verfied by Visa payment service

European retailers adopt Verfied by Visa payment service

Visa EU has announced that hundreds of online retailers across Europe are now live with its payment authentication service Verified by Visa.

Verified by Visa enables issuing banks to confirm that cardholders are genuine by asking them to use a password when shopping in the high street.

Visa EU says the success of the Verified by Visa scheme is a direct result of European payment service provider Bibit and its acquirer, Citibank Card Acceptance (CCA), delivering the programme to merchants.

Jon Prideaux, executive vice president, Visa EU, says the announcement that hundreds of e-tailers have adopted the system confirms roll-out plans for Verified by Visa are on target for Europe.

"We have received a lot of interest from major retailers in VbV and there are a number of others due to go live over the next few weeks," adds Prideaux.

Visa estimates the scheme will save e-tailers £55 million a year in the UK alone.

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