VISA LAUNCHES 3-D SECURE VENDOR PROGRAM |
Major advance in implementing payment authentication programs |
San Francisco—December 20, 2000—Visa International has launched a 3-D Secure Vendor Program aimed at
speeding the implementation of a global payment authentication solution.
This group is comprised of leading Internet technology companies
with the common goals of advancing payment security standards and
enhancing consumer confidence in online purchasing.
“A reliable global payment system will play a critical role in
increasing consumer confidence and merchant profitability on the
Internet,” said Tom Manessis, vice president of e-Visa International.
“We’re excited to be working with some of the top Internet services
companies to advance our 3-D Secure solution.” A major component of Visa International’s Global Secure e-Commerce
Initiative, the 3-D Secure Vendor Program will focus on advancing payment
authentication—verifying that the person initiating the transaction is
in fact a legitimate user of the account. 3-D Secure provides
options to authenticate the payment online, protect the privacy of
transmissions, and ensure that data in transmission remains unchanged.
Merchants will be able to enjoy the benefits of
3-D Secure without changing business processes because the 3-D
solution will leverage their existing
payment systems. The solution also supports new payment products
and channels, including chip cards, mobile phones, personal digital
assistants and set-top boxes. The 3-D Secure Vendor Program gives a wide variety of solutions
providers the flexibility to work together to develop and provide
comprehensive solutions for payment authentication.
The first meeting of the 3-D Secure Vendor program was held on
November 2 in Silicon Valley.
As the growth of e-commerce has exploded, Visa is playing a
leadership role in Internet security by establishing a program focused on
developing a single standard for payment authentication.
With input from 3-D Secure Vendors, Visa will help create a
singular, globally interoperable payment authentication solution for
Members that will benefit their merchants and cardholders. “Together with our 3-D Secure vendors, we are all working very
hard to make payer authentication work.
We know that marketplaces around the world will implement their
security initiatives uniquely, but we all agree on 3-D Secure as the
ultimate starting point”, said Philip Yen, executive vice president of
e-Visa International. Visa continues to develop, enhance and advance standards around the
world. Examples of these
efforts include: Open Platform;
Common Electronic Purse Specification (CEPS); EMV (Europay, MasterCard,
Visa) standard for chip, credit and debit cards; and the new Visa Global
Invoice Specification based on XML. The
3-D Secure Vendor program represents another step by Visa to speed the
arrival of universal-commerce (u-commerce): the ability to conduct
commerce conveniently and securely anytime, anywhere, and with any kind of
device. Other components of
the Global Secure e-Commerce Initiative include the global Merchant Data
Security Website (www.visa.com/secured)
, global consumer protection,
the introduction of an Electronic Commerce Indicator (ECI) that
identifies e-commerce transactions, the implementation of a Global
Merchant Chargeback Monitoring Program, the expansion of m-commerce and
smart card programs, and enhancements to Visa’s processing systems to
support increased transaction volumes. # # # Note to Editors: As the “World's Best Way
to Pay,” Visa is the world’s leading payment brand and the largest
payment system worldwide with more volume than all other major payment
cards combined. Visa plays a
pivotal role in advancing new payment products and technologies to benefit
its 21,000 member financial institutions and their cardholders.
Visa has more than 80 smart card programs in 35 countries and on
the Internet, with 23 million Visa chip cards, including 8 million Visa
Cash cards. Visa-branded
cards generate US$1.6 trillion in annual volume and are accepted at over
20 million worldwide locations, including at more than 643,000 ATMs in the
Visa Global ATM Network. Visa’s
Internet address is www.visa.com.
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