|
|
 |
 |
|
| Verified By Visa | | | Frequently Asked Questions | |
Verified by Visa is only one method of online security being promoted to merchants by payment card companies. Why should we adopt this one?
Verified by Visa has been implemented in more than 65 countries, with more than 350 million cardholders enrolled and more than 60,000 merchants offering the service. Verified by Visa is the result of several years of learning from earlier secure online payment services and is focused on making the process as easy as possible for merchants and cardholders while still addressing key concerns. Most importantly, it offers you guaranteed payment and provides your business with increased protection from fraudulent transactions and disputes, enabling your business to grow more profitably. The same technology is also being used by other payment card brands.
| |
I already use Secure Sockets Layer technology. Why is Verified by Visa better?
Secure Sockets Layer (SSL) securely encrypts the information that is being sent over the Internet. Verified by Visa uses SSL to securely transmit data, but also adds another very important layer of protection by confirming the identity of the Visa cardholder during the transaction. This authentication process creates a virtual card present environment. It is this important additional function that enables Visa card issuers to provide your business with guaranteed payment for the most common types of internet disputes. | |
What is involved in implementing Verified by Visa?
To participate in Verified by Visa, you need to install software known as the Merchant Plug-In (MPI) to your existing online payment system. The software is designed to have minimal impact to your existing payment process. | | | |
How much time does it take to implement Verified by Visa?
It depends on the size and complexity of your e-commerce setup, as well as the implementation option that you choose. As an example, it may take a few days for a small merchant to enable Verified by Visa, while it may take a large merchant one to two months. Your acquirer or software provider will be able to provide you with assistance and help you evaluate the time needed for your implementation. | |
What if I don’t sign up for Verified by Visa?
Without Verified by Visa you will not benefit from the fraud and dispute protection Verified by Visa provides. Visa estimates that the costs associated with e-commerce fraud and disputes can be reduced by up to 50 percent with Verified by Visa. | |
How will Visa cardholders know that I have Verified by Visa?
You will display the Verified by Visa Mark on your website. Visa has developed some communication templates to help you communicate Verified by Visa to your customers. Visa will also provide a link to your online store on its Asia Pacific website letting cardholders know they can shop at your site with confidence. You may also be able to participate in marketing support programs that Visa or your financial institution may be undertaking. | |
How does the Verified by Visa transaction work?
You can learn how Verified by Visa works by reading the description of 3-D Secure or by using the Verified by Visa shopping demo available here. | | | |
How much maintenance is required for the Merchant Plug-In?
Like any software, the Verified by Visa Merchant Plug-In may require maintenance from time-to-time. Similarly, upgrades may be required in the future. Most MPI software suppliers supply online support for these circumstances. | |
How much longer does a transaction take when it uses Verified by Visa?
On average, the Verified by Visa process adds just 10 to 20 seconds to the total transaction time. | |
How do I recognize a Verified by Visa registered Visa card?
The Verified by Visa Merchant Plug-In automates this process for you by checking with the financial institution that issued the Visa card to see if the card is registered before automating the process for authentication. | |
How do I treat Visa cards that are not registered for Verified by Visa?
You should process transactions for Visa cards that are not registered for Verified by Visa with the same precautions that you currently use. Provided you have implemented Verified by Visa correctly, you will benefit from guaranteed payment for the most common types of e-commerce disputes on all of your transactions. | |
I have additional questions about Verified by Visa. Who can I contact?
You should contact your Visa acquirer. If you have other questions about Verified by Visa, you can contact your local Visa representative.
| | | |
|
|
| | |  | | | |  | ESDlife Services Hong Kong – Case Study | |  | ESDlife is an award-winning bilingual portal that has pioneered the provision of public and commercial services in Hong Kong. Find out more about ESDlife’s participation in Verified by Visa. | |
| | | | |
|
