I remember the first time I attempted to make an online purchase and got a popup telling me I had to sign up for Verified by Visa; I immediately thought it was a phishing scam and backed away quickly. I have recently done some research and it appears that there was a time that Verified by Visa popups were phishing; but times have changed. With the implementation of EMV Compliance it is expected that there will be an increase in fraud attempts for online purchases, now is Verified by Visa’s time to shine.
On October 1 the major credit card companies, MasterCard, Visa, Discover and American Express began shifting liability for credit card fraud to merchants that are not EMV-compliant. History has shown that EMV-compliance virtually eliminates credit card fraud and when the buyer uses a credit card with an RFID chip and the merchant has an EMV-compliant credit card terminal. While this is very good for brick and mortar businesses, history has also shown that when EMV-compliance helps greatly with purchases made face-to-face, there is also the potential for additional credit card fraud with relation to online credit card purchases. For those merchants relying solely on online purchases or brick and mortar businesses, Mobius Payments wants you to know that they now support Verified by Visa fraud protection. (more…)