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[FYI] IT Week: Visa shift to cut costs for e-traders


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IT Week: Visa shift to cut costs for e-traders

 Mon, 26 Jun 2000 12:18:11 GMT
 Rupert Collins-White

Visa is planning radical changes to its business rules that will mean 
online merchants will no longer have to carry the cost of fraudulent 

Next March, Visa will shift responsibility for authenticating online 
shoppers from merchants to the credit card issuers.  

One authentication option is for banks to issue free smartcard 
readers to customers. Current authentication systems usually in volve 
users installing software.  

Visa last week said that all the banks in the Visa network will begin 
using Secure Electronic Transaction (SET) technology under the Visa 
Secure E-commerce Initiative when moving money between themselves, 
and they will hold SET certificates for merchants and customers. This 
will remove much of the back-end integration that currently has to be 
put in place for users of SET, and will open up SET security to many 
more merchants.  


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