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
European cities may still be feeling the pinch of the global recession.
more »
The EBRD Board of Directors has approved a $50 million convertible loan to Petrolinvest to finance the completion of exploration works at the company’s main oilfields.
more »
The European Commission welcomes the adoption today at the United Nations in Geneva of the first international regulation on safety of both fully electric and hybrid cars.
more »
Bloomberg has today announced that Lithuania had the outlook on its credit rating raised by Fitch Ratings after the Government implemented an austerity program to curb the budget deficit.
more »
In January 2010, compared with December 2009, the highest increase in retail trade in the EU-27 Member States was observed in Lithuania.
more »
Three thousand former car, refrigerator and construction workers in Germany and Lithuania will get €7.6 million in EU globalisation adjustment fund aid for training, self-employment and job guidance after Parliament gave the green light on Tuesday.
more »
Some 80% of Europeans continue to travel for their holidays according to a new Eurobarometer survey on ‘The attitudes of Europeans towards tourism 2010’.
more »
The EU's internal market will be under scrutiny Tuesday when a series of reports will be debated by MEPs in Strasbourg.
more »
EU Employment and Social Affairs Ministers today agreed on a new facility to provide loans to people who have lost their jobs and want to start or further develop their own small business.
more »
Over €7.6 million in financial aid for training and self-employment could be available to former workers in German and Lithuanian if MEPs back the measures Tuesday.
more »