Visa has introduced a new program for EMV payments

Visa has introduced an updated Visa Secure program (previously known as Verified by Visa), which helps to improve the security of online transactions, the press service of the international payment system reports.

“Since April 18, the new protocol is available in the market of Central and Eastern Europe, the Middle East and Africa, including Russia. Visa Secure offers rules and policies that must be followed by trade and service enterprises (tsps) and issuing banks to authenticate transactions during online purchases and verify the cardholder before authorizing the payment,” the report says.

Visa Secure uses the latest specification of EMV 3D Secure — 3DS), an updated protocol for data exchange between the TSP, the card issuer and the cardholder, which helps to authenticate the cardholder in a more convenient way. Using this protocol, the cardholder can confirm their identity in front of the issuing bank or other organization that issued the card, when buying in an online store or at the time of the transaction without presenting a physical card. An additional level of security allows you to prevent unauthorized transactions and protect trade and service companies from fraud.

“Visa Secure provides more reliable protection against fraud, allows you to make payment more convenient for cardholders and increase the number of completed purchases, thus providing benefits to both cardholders and retail and service enterprises and banks. Visa Secure helps merchants and banks better detect and prevent fraud attempts by more than 10-fold increasing the amount of data that is available to issuers for effective risk analysis and decision-making. Buyers also get the opportunity to make payments using various channels in a more convenient and secure way, including using a browser on a smartphone, a mobile application and an electronic wallet,” the release notes.