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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