Visa Introduces New Online Payment Program

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Visa Security aims to make identity authentication a simple and secure process.

Visa introduced a new program for online payment. Photo: canstar.co.nz

Visa has announced an update to its Visa Secure program, previously called Visa Certified (Cardholder Authentication), which helps enhance the security of online transactions.

The update is available in Central and Eastern Europe, Middle East and Africa markets. Visa Security introduces rules and policies that merchants and issuers must follow to authenticate transactions with online purchases and verify the card holder before authorizing payment.

Using Viz Secure, the cardholder can verify their identity with the identity card or other organization that issued the card at the time of the transaction when making payments in the online store or without presenting a physical card. An additional level of security helps prevent unauthorized transactions and protect merchants from fraud.

“We see that e-commerce in Ukraine is growing rapidly. Consumers are used to the fact that at any time they can shop online using a mobile device, and rely on convenience and security. This is where Visa Security comes to the rescue, ”said Vera Platnova, Senior Vice President and General Manager of Visa in Ukraine, Georgia, CIS and Southeast Europe.

Summary PAYSPACE magazine

Recall that Visa and MasterCard plan this year to increase fees for many transactions with payment cards, in some cases, the changes promise major difficulties for small businesses. It is unclear whether new rates will be introduced if the epidemic continues.

In particular, we are talking about interbank commissions that retail banks deduct when their customers pay for purchases using cards. The size of such a board can range from 1% to 3%..

Read: Visa has raised the limit for contactless payments: a new amount has been announced.


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