Visa rolls out roadmap regarding the future of payment security in Bangladesh

Thursday 17 September 2020 13:11 CET | News

Visa has launched its future of security roadmap for Bangladesh, with a detailed plan to further strengthen payment security over the coming three years.

According to Dhaka Tribune, the blueprint regarding payment security includes the adoption of EMV 3DS protocol by all local issuers of Visa credentials, removing sensitive payment data from the ecosystem – making stolen account details useless – implementing safeguards to protect personal data, identifying potential fraud before it occurs, and the inclusion of accountholders and merchants – making them play an active role in securing payments.

Moreover, Visa recommends merchants to support in-app tokenization for mobile transactions and payment security, as by tokenizing customers’ credentials, merchants can add another layer of security and better manage the customer journey and payment data.

Furthermore, the roadmap also suggests migration to ATM EMV, as it secures the ecosystem and enables clients to further strengthen their capabilities by deploying real-time fraud monitoring tools, Dhaka Tribune stated.

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Keywords: Visa, security roadmap, Bangladesh, payment security, EMV 3DS, credentials, sensitive payment data, stolen account details, fraud, merchants, securing payments, tokenization, mobile transactions, ATM EMV, real-time fraud monitoring
Categories: Fraud & Financial Crime
Countries: Bangladesh
This article is part of category

Fraud & Financial Crime

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