Visa Sees Steady Adoption of Verified by Visa
Visa USA reported today that Verified by Visa's share of e-commerce transactions has grown over 40$ with transaction volume during the first quarter of 2005 increasing more than 230% over last year.
The adoption of Verified by Visa has played a major role in driving payment card fraud to its lowest rate ever - less than five cents per $100. This success continues to attract greater adoption by cardholders and merchants of the Verified by Visa program. Today, more than 360 million Visa cards are eligible for Verified by Visa, and 56,000 merchants worldwide have adopted the cardholder authentication service."Even brick-and-mortar merchants know the importance of online shopping - and how maintaining customer confidence is the key to sales," said Mike Yakel, Vice President of Emerging Product Management, Visa USA. "Verified by Visa provides an added layer of security - protecting both the Internet merchant and consumers."
"There's definitely momentum behind Verified by Visa that's helping to drive e-commerce revenues and cardholder satisfaction," said Yakel. "Merchants who offer Verified by Visa technology are seen by consumers as market leaders and preferred sites, giving them a distinct advantage in a competitive landscape."
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