Visa And CyberSource Target Online Fraud.
Published:
3 September 1999 y., Friday
Visa and CyberSource said Wednesday that they will collaborate on a system aimed at helping merchants prevent fraudulent purchases made over the Internet. The two companies will strive to improve the existing CyberSource Internet Fraud Screen and market it to financial institutions and merchants. The system will calculate more than 100 risk factors and provide a "score" to merchants in real-time that represents the likelihood of fraud for each pending online transaction. Visa and CyberSource said that will enable merchants to better manage the risk of selling their wares over the Web. Visa said it will give merchants who use the system a "significant" discount off the approximately 2 percent-3 percent it charges them to process credit card transactions. Jim Degracia, senior vice president for electronic commerce at Visa, said fraud rates for online sales are .09 percent, slightly higher than the .08 percent for offline sales. With $610 billion in total credit card sales last year, that works out to more than $500 million in fraudulent sales made through both physical and virtual channels.
Šaltinis:
Information Week
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission today concluded on the existence of excessive deficits in Cyprus, Denmark and Finland and recommended deadlines for their correction to the Council.
more »
Over 2000 former construction workers in Spain and nearly 600 ex-employees of Irish glass company Waterford Crystal and its suppliers will receive a total of €11 million in aid from the EU Globalisation Adjustment Fund to help with training, business start-ups and job guidance under plans agreed by MEPs and the Council of Ministers.
more »
MEPs on Tuesday decided six top priorities and a number of additional key issues for the upcoming negotiations on the 2011 budget.
more »
The EU-China Science and Technology Week starts today at the heart of World Expo Shanghai.
more »
European Climate Action Commissioner Connie Hedegaard and European Investment Bank President Philippe Maystadt agreed on Monday to explore a joint climate finance initiative for developing countries as part of the European Union commitment made at the UN climate conference in Copenhagen last December.
more »
Sustainability, competitiveness and security of energy supply: the three pillars to the foundation of a new EU energy community.
more »
EU Trade Commissioner Karel De Gucht and Palestinian Minister of National Economy Hasan Abu-Libdeh today discussed measures to enhance EU-Palestinian bilateral trade relations and to facilitate trade of Palestinian products to EU markets.
more »
Some of the most innovative and exciting transport research projects funded by the EU are being showcased at the Transport Research Arena (TRA) in Brussels this week.
more »
Nowadays we rely heavily on satellite positioning and navigation, but the only available technology is American.
more »
The European Commission will reveal how it aims to revamp its transport networks policy in response to the challenges of the 21st century at a conference dedicated to the Trans-European Transport Network (TEN-T) in Zaragoza on 8 and 9 June.
more »