Visa has presented the updated program Visa Secure (previously known as Verified by Visa), which helps increase the security of online transactions.

Banki.ru reports citing the Visa press service that the new protocol will be available in Central and Eastern Europe, Middle East and Africa starting from April 18.

Visа Secure offers rules and policies which retail and service outlets and issue banks must follow for authentication of online purchase transactions and verification of cardholders before the authorization of the payment.

With this protocol, the cardholder can verify their identity to the issue bank or other organization which issued the card during the online purchase transaction or during a transaction without the physical card. The new level of security allows preventing unauthorized transactions and protecting retail and service outlets from fraud.

“Visa Secure provides more reliable protection from fraud, makes payments more convenient for cardholders and increases the number of completed purchases, thus securing advantages for both cardholders on one side and retail and service outlets and banks on the other. The latter two can identify and prevent fraud attempts more successfully via Visa Secure thanks to over 10 times as larger data volume, which becomes accessible to the issue banks for effective risk analysis and decision making. The buyers have the opportunity to make payments in a more convenient and secure way, via various channels including the browser on smartphone, a mobile app, and an e-wallet,” reads the announcement.

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