'Verified by Visa' was first introduced in 2001 but surprisingly many credit card users still haven?t heard of it considering that 1 in 4 online transactions throughout the UK and Europe are now verified through this security system. Essentially, it is an extra level of security now offered by Visa to customers using cards with their payment transfer system. It was designed from a technology called 3-D Secure, developed by Visa, and is now widely used by online merchants. MasterCard have also introduced an extra level of authentication called MasterCard SecureCode that works using the same technology.
There are two ways to sign up to 'Verified by Visa'. The first, and by far the most common way, is to be redirected to the system whilst making an online purchase. The system will realise that you have not previously signed up and will ask you for some details. You will be asked to devise a password for use with the system and to come up with a personal message. The second way of signing up is to visit your card provider's website. On your card provider's website you should be able to find information on the 'Verified by Visa' system as well as being able to register. You will be asked for the same information that you would be if you were redirected from an online store.
Once you have signed up, Verified by Visa helps protect your cards against fraud and theft by providing another level of security. When you make a purchase at a participating online store you will simply be redirected to the Verified by Visa website and asked for your password and your card?s Security Code; the three digit code on the back in the address bar. Once your identity has been confirmed then your purchase will proceed as normal. With online credit card fraud rising, along with the popularity of online shopping, this makes criminal activity more difficult.
One in four purchases made online are now 'Verified by Visa', with more online vendors signing up each day, so it is increasingly likely that you will be redirected to the system when you make a purchase. Once you have signed up you simply need to enter your password. Sometimes you will also be asked for your card's Security Code, which is the 3 digit code on the back of the card. Once your details have been authenticated you will be able to continue with your purchases.
What makes 'Verified for Visa' even better, aside from how simple it is to register and use, is the fact that it is free. This service is offer to Visa cardholders at no extra cost. It is part of Visa's responsibility to its customer to ensure that their transactions are as secure as possible and therefore there is no charge. You do not need to apply for a new card to use the system, as your card does not need to be scanned. Finally no software needs to be installed onto your PC in order to use the 'Verified by Visa' application.
As the popularity of Internet shopping increase so does the possibility of online credit card fraud. Between 2003 and 2007 Internet card payments increase four-fold. Systems like Verified by Visa are important in helping curb card crime. A similar system, also based on Visa 3-D Secure, is offer by MasterCard as 'MasterCard SecureCode'. This system is based on the same technology and works in practically the same way as Visa's. - 15224
There are two ways to sign up to 'Verified by Visa'. The first, and by far the most common way, is to be redirected to the system whilst making an online purchase. The system will realise that you have not previously signed up and will ask you for some details. You will be asked to devise a password for use with the system and to come up with a personal message. The second way of signing up is to visit your card provider's website. On your card provider's website you should be able to find information on the 'Verified by Visa' system as well as being able to register. You will be asked for the same information that you would be if you were redirected from an online store.
Once you have signed up, Verified by Visa helps protect your cards against fraud and theft by providing another level of security. When you make a purchase at a participating online store you will simply be redirected to the Verified by Visa website and asked for your password and your card?s Security Code; the three digit code on the back in the address bar. Once your identity has been confirmed then your purchase will proceed as normal. With online credit card fraud rising, along with the popularity of online shopping, this makes criminal activity more difficult.
One in four purchases made online are now 'Verified by Visa', with more online vendors signing up each day, so it is increasingly likely that you will be redirected to the system when you make a purchase. Once you have signed up you simply need to enter your password. Sometimes you will also be asked for your card's Security Code, which is the 3 digit code on the back of the card. Once your details have been authenticated you will be able to continue with your purchases.
What makes 'Verified for Visa' even better, aside from how simple it is to register and use, is the fact that it is free. This service is offer to Visa cardholders at no extra cost. It is part of Visa's responsibility to its customer to ensure that their transactions are as secure as possible and therefore there is no charge. You do not need to apply for a new card to use the system, as your card does not need to be scanned. Finally no software needs to be installed onto your PC in order to use the 'Verified by Visa' application.
As the popularity of Internet shopping increase so does the possibility of online credit card fraud. Between 2003 and 2007 Internet card payments increase four-fold. Systems like Verified by Visa are important in helping curb card crime. A similar system, also based on Visa 3-D Secure, is offer by MasterCard as 'MasterCard SecureCode'. This system is based on the same technology and works in practically the same way as Visa's. - 15224
About the Author:
Henry Goode is author of many finance related articles written for popular websites. Read more about Visa credit cards here.
