Wells Fargo Teams up with Visa to Help Merchants Fight Internet Fraud

Wells Fargo has launched Wells Fargo Global Payment Gateway service, its comprehensive payment solution incorporating Verified by Visa as a complement to Wells Fargos state-of-the-art fraud and security tools for merchants. Verified by Visa provides merchants and consumers with increased security in accepting and using credit cards and debit cards over the Internet, thereby reducing their prospect of becoming a victim of online fraud. A Wells Fargo survey of 300 Internet merchants in September 2003 noted that more than a third were not satisfied with the handling of their chargebacks and less than 50 percent said they were actually satisfied with their current process. With Verified by Visa, merchants in the program are protected from fraudulent credit and debit card transactions. With Verified by Visa, the merchant is no longer liable for fraud related chargebacks. In addition, consumers are less likely to incur unauthorized use of their cards, which increases their confidence in shopping online.