Visa launches new consumer authentication service
November 26, 2012 By Canadian Garden Centre & Nursery
Nov. 26, 2012, San Francisco — Visa Inc. is introducing a new solution in its information products line up to help issuers reduce the risk of eCommerce fraud using real-time, risk-based transaction analysis.
Called the Visa Consumer Authentication Service, the solution is
designed to support an issuer's Three Domain Secure (3-D Secure) program
such as Verified by Visa and is available in all Visa Inc. markets
Visa Consumer Authentication Service authenticates
the consumer prior to the authorization process, adding a powerful layer
of protection against fraud. As the consumer begins the online checkout
process, the solution performs a real-time risk assessment of the
transaction based on numerous inputs including device and transaction
information and historical spending patterns. The result is that issuers
can complete lower risk eCommerce transactions without requiring
consumers to go through the extra step of entering their passwords or
other verification. The solution minimizes disruption and abandonment
at the point of purchase, while also helping issuers and merchants
reduce fraud losses.
"As more Canadians head online during the
busy holiday shopping season, Visa is adding an extra layer of security
to online transactions with the launch of Visa Consumer Authentication
Service," said Shirley Matthew, head of product platforms with Visa
Canada. "Visa's network intelligence is at the centre of this solution,
helping us deliver security benefits to consumers, merchants and our
financial institution clients. For consumers, the Verified by Visa
authentication experience will be streamlined, since only the riskiest
transactions are prompted for verification."
Visa Consumer Authentication Service is a hosted access control server that provides issuers with the following capabilities:
- Sophisticated risk-based authentication. Visa
Consumer Authentication Service's risk-scoring model takes into account
enhanced inputs, including critical information about the device,
transaction information and spending profiles. This data will enhance
issuers' decision-making ability to identify potential fraud and prompt
for verification only when necessary.
- Dynamic methods of authentication. Visa
Consumer Authentication Service supports a wide range of account holder
authentication methods. This means higher-risk transactions may be
verified by the issuer in a variety of ways including more secure,
dynamic methods such as one-time passwords or hardware tokens.
- Support for mobile.
Visa Consumer Authentication Service can be integrated to function
through a range of devices including mobile phones and tablets, to
ensure consumers have a secure, efficient and reliable payment
experience when shopping through another channel beyond the PC.
- Rules for strategy refinement.
Visa Consumer Authentication Service provides issuers with the tools to
write additional rules to further refine risk decisioning capabilities.
operate one of the world's most advanced processing
networks—VisaNet—that is capable of handling more than 24,000
transaction messages a second, with fraud protection for consumers and
guaranteed payment for merchants.
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