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British Airways teams up with Visa EU to tackle Internet fraud

Tuesday 24 February 2004 10:24 CET | News

British Airways has made its website (www.ba.com) even more secure for customers after signing up to Visas new payment card protection system, Verified by Visa.
British Airways has become the latest merchant in the airline sector to sign up to the online authentication service. Airlines are one of the fastest growing online retail sectors accounting for almost 10% of online spending in the EU in the last quarter of 2004. Verified by Visa is a password protected system that guarantees cardholder identity. The service, provided to BA by CyberSource with Streamline International, has been available to BA customers in a pilot project since December 2nd 2003. British Airways is joining over 10,000 retailers, 30 acquiring banks and 35 issuing banks across Europe that have now signed up for Verified by Visa. British Airways is the UKs largest international scheduled airline, flying more than 38 million passengers to more than 220 destinations across the globe. In the last quarter of 2003, ba.com sales processed via VisaNet have increased by a multiple of 30, compared to the same time last year. UK retailers will save an estimated £55 million a year by adopting Verified by Visa. In addition, all participating retailers benefit from a "no fraud guarantee"** for online transactions regardless of whether the cardholder has signed up for the service or not. To date, Verified by Visa has already been adopted by 80% of US banks, and the European rollout is gathering pace. Acquiring banks registered for Verified by Visa now cover more than 90% of UK e-commerce traffic. The Cardholder experience when using Verified by Visa Enter your Visa numberPassword window appearsPurchase complete **Since 1st April 2002, European retailers offering Verified by Visa are no longer liable for cardholder not present chargebacks made by European cardholders where the cardholder denies authorising the transaction. This was extended to cover all cardholders on 1st April 2003. Retailers will still be liable for other related chargebacks.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce