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UK: Visa Europe confirms password-free authentication for Verified by Visa transactions

Tuesday 24 July 2012 13:27 CET | News

Visa Europe has confirmed that almost 65 percent (the percentage is expected to rise to 90 when completely rolled out) of Verified by Visa (VbV) transactions in the UK will be done using password-free authentication.

As a result, cardholders will no longer have to enter their VbV password, consumers will only have to enter a password for higher risk transactions.

With password-free authentication, VbV transactions are risk-assessed, using a range of information and data sources Password-free authentication reduces the number of consumers who drop out of the checkout process. The average dropout rate for password-free VbV transactions is almost 1 percent.

Visa Europe is owned and operated by more than 3,700 European member financial institutions and was incorporated in July 2004.
 


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Keywords: Visa Europe, password-free authentication, Verified by Visa, online fraud
Categories: Fraud & Financial Crime
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Countries: World
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Fraud & Financial Crime






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