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
On 11 February, heads of state or government of European Union member states will meet in Brussels to seek a commitment towards implementing a revitalised economic strategy to boost employment and growth in the EU.
more »
International Monetary Fund forecasts that Lithuania’s economy will grow 1.6 % this year, making it “the only one of the three Baltic economies expected to be in the positive territory in 2010”.
more »
Raynair announced it would open its 40th and 1st Central European base at Kaunas, Lithuania’s second largest city, in May with 2 based aircraft and 18 routes.
more »
A new Partnership Strategy for Morocco has been approved by the Board of Executive Directors of the World Bank.
more »
The electric car is an opportunity for European industry.
more »
The EBRD’s Board of Directors has adopted a new strategy for Kazakhstan, which reinforces the Bank’s commitment to further support the Kazakh economy and sets out the priorities for its activities in the country over the next three years.
more »
The European Commission has authorised, under EU state aid rules, plans notified by Sweden to provide a guarantee that would enable Saab Automobile AB to access a loan from the European Investment Bank (EIB).
more »
At the informal meeting of the Ministers of Competitiveness (Science and Industry), to be held between 7 and 9 February in San Sebastian, the issues on the table will include placing science at the top of the EU agenda and showcasing its role in economic recovery, as well taking the debate on the electric vehicle to EU level.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 27-month Stand-By Arrangement with Jamaica in the amount of SDR 820.5 million (about US$1.27 billion) to support the country’s economic reforms and help it cope with the consequences of the global downturn.
more »
Mr. Nadeem Ilahi, chief of an International Monetary Fund (IMF) staff mission to the Kyrgyz Republic, issued the following statement today in Bishkek.
more »