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Visa Enhances E-commerce Security and Convenience

F.Y. Teng | Nov. 28, 2012
The payment solution provider now offers a consumer authentication service that leverages real-time, risk-based transaction analysis.

The global payment solution provider Visa Inc. announced on Tuesday (November 27, 2012)a new service in its stable of information products. Called the Visa Consumer Authentication Service, it is, according to the company's executives, "a hosted access control server that provides issuers with" a number of functions aimed at helping them run through the authentication process more efficiently and quickly, even as they reduce significantly the risks associated with e-commerce fraud.

According to Visa executives, the new service offers the following.

* "Sophisticated risk-based authentication [through] a risk-scoring model [that] takes into account enhanced inputs, including critical information about the [transacting] device, transaction information and spending profiles."

* "Dynamic methods of authentication [and therefore] supports a wide range of account holder authentication methods [and in turn] 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 [a wide] range of devices including mobile phones and tablets."

* Flexibility in customisation by issuers "to write additional rules to further refine risk decisioning capabilities."


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