Visa Launches "Advanced Authorization" To Fight Fraud
In a credit card industry reeling from regular announcements that consumer information has been compromised in some way, Visa USA announced today that it has introduced a new scoring system that will help the company detect fraud at the transactional and global levels.
"Fighting fraud and protecting cardholders has always been a high priority for Visa," said Jean Bruesewitz, senior vice president, Processing and Emerging Products, Visa USA. "Visa is continually investing in the most sophisticated fraud-fighting systems to stay one step ahead of the criminals.Advanced Authorization adds another layer of security and ensures ever increased cardholder confidence with each Visa payment card purchase."
The company said that every transaction submitted to its network would be subject to this evaluation, giving banks an instant rating on a transaction's potential for fraud. By comparing transactions across the network, the company hopes to more easily identify credit card thieves who may run batches of credit cards through accounts to determine which ones are valid for spending.
Visa also said in a statement that "Visa-system fraud" was at an all-time low of 5 cents per $100.
Subscribe in a reader
0 Comments:
Post a Comment
<< Home