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[FYI] IT Week: Visa shift to cut costs for e-traders
- To: debate@fitug.de
- Subject: [FYI] IT Week: Visa shift to cut costs for e-traders
- From: "Axel H Horns" <horns@ipjur.com>
- Date: Mon, 26 Jun 2000 20:38:14 +0200
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http://www.zdnet.co.uk/news/2000/25/ns-16228.html
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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
transactions
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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