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e-onlinedata: Chargeback Procedures
& Fraud Prevention
e-onlinedata is committed to helping merchants
control and prevent fraud.
Criminals and hackers are all too aware of the latest security measures
that Visa and MasterCard are creating to control fraud and identity theft.
Merchants must be alert and take extra precautions wherever possible,
because they are financially responsible for fraudulent transactions,
including those approved by the cardholder’s issuing bank.
PAGE INDEX:
Visa and MasterCard will allow any cardholder to chargeback
a purchase if the customer can demonstrate to ANY degree that they have
not received the products or services promised by your company in the
quantity, quality & time frame
promised. In other words, if your company promises
product or services delivery on Tuesday, but the product or service is
not delivered until Wednesday (a day late), that cardholder can probably
charge that sale back with little you can do about it.
Likewise, if the quantity or quality of products or
services delivered are not exactly as
described on your site or in other marketing materials,
the cardholder will be allowed to chargeback the purchase.
Chargeback Process
Introduction
to the Chargeback Process
Chargeback
As a general rule, cardholders have the right to dispute any transaction
processed on a Visa/MasterCard. These disputes are called chargebacks,
and are governed by a series of rules set forth by these entities. In
the chargeback process, the burden of proof lies with the merchant. The
merchant will be given the opportunity to provide supporting documentation
to prove the legitimacy of the transaction. If the merchant is successful,
the transaction is credited back to his account. If the merchant is unsuccessful,
or does not respond in a timely fashion, they will be financial responsible
for returning funds to the consumer who filed the dispute.
Summary of Chargeback Process
When a chargeback is initiated, the Issuer gives the cardholder provisional
credit. In turn, the Issuer sends a request to the merchant's Acquiring
Bank. The Issuing Bank is often required to submit the documents that
support the customer’s dispute. To facilitate the handling of the
dispute, we use an “auto-resolve” database that automatically
places the chargeback in a pending status, waiting for the Issuing Bank
documents to arrive. The system will auto-resolve the case in the event
the bank documents do not arrive and will send the chargeback back to
the Issuer. When the bank documents are received, the system may place
the case in a queue for a chargeback operator to process, or automatically
debit the merchant and generate the chargeback letter.
The chargeback letter gives the merchant about 8-10
days to respond. No second warning is sent in absence of a response. At
times, the request comes in at a later time. It is IMPORTANT
that the merchant always checks the “Respond by”
date on top of the communication letter to insure that the response is
sent on time. A case number is assigned to each disputed
item. The merchant must attach the correct case number to each page of
the rebuttal paperwork. Cardholders may dispute a charge for various reasons
(i.e. “Non-Authorization”, “Merchandise not received”),
and often attach a letter of explanation to the output package. Merchant’s
rebuttal must address each one of the customer’s complaints. A rebuttal
letter containing the merchant’s point of view should always accompany
the paperwork. As a default, we send the letters to the business address
indicated by the merchant. Once the rebuttal paperwork is received by
the chargeback department, the case is reviewed and, if applicable, it
is reversed back to the Issuer. A credit to the merchant for the transaction
amount will be granted in that instance. In the event the documents do
not provide a valid reason to reverse the dispute, the Chargeback Department
will try to contact the merchant for more information.
Chargeback fees will apply on each disputed item.
Fees are debited as follows:
| • |
MO/TO - Internet accounts: fees are
debited immediately when the chargeback is initiated
by the Issuing Bank. |
| • |
Retail accounts: fees are charged when the chargeback
is in the working stage at EVO, and the merchant is given the time
to respond. In the event the chargeback comes in, but it is immediately
reversed back to the Issuer with no request of documentation on the
merchant’s side, no charge will apply. |
|
|
Chargeback Cycle
|
|
Visa
First Chargeback initiated by Issuer
Representment (rebuttal) initiated by Acquirer
If there is no resolution, the Issuer can request the Pre-Arbitration/Arbitration |
MasterCard
First Chargeback initiated by Issuer
Representment (rebuttal) initiated by Acquirer
Second Chargeback initiated by Issuer
Pre-Arbitration/Arbitration can be initiated by Acquirer. |
|
| Note:
Documentation for rebuttals needs to arrive within
10 days for Visa and 8 days for MasterCard. The “respond
by” date is specified on top of the merchant
letter. The merchant must respond prior
to that date. |
|
|
|
Summary of Retrieval Process
Often the first step in the chargeback process is a request made by the
Issuing Bank for the transaction information document (TID),
or receipt. This request is called retrieval. The Acquirer is obligated
to fulfill this request by providing a copy of the transaction receipt.
Alternatively the merchant should respond to the Issuer explaining the
reason he cannot honor the request. A retrieval request can simply be
a request for the information, or could indicate that the Issuer will
initiate a chargeback in the near future.
Upon notification of the retrieval request, a letter
is automatically generated to the merchant. This letter states that the
merchant has a certain number of days (usually 10 days) to respond by
providing the indicated sales draft. On the 11th day, a second and last
letter is generated, and sent to the merchant. The sales draft must be
submitted to the Issuer on the 28th day from the moment the request has
been initiated.
A case number is assigned to each request.
The merchant must include the correct case number on top of the TID. Once
the merchant has responded to the retrieval, a chargeback analyst will
review the received documentation. In the event the sales draft is illegible,
wrong, or has missing items, the analyst will notify the merchant via
phone or fax, when available. If the merchant does not respond within
the given timeframe, no notification will be sent to the merchant. A Good
Faith Collection letter will be submitted to the Issuing Bank when:
| • |
The transaction has a POS entry of 90 (swiped), and
the signed sales slip is available; |
| • |
For MO/TO transactions, the merchant matches the AVS (Address Verification),
and provides signed proof of delivery. |
No partial credit is granted to the customer
in the event of a retrieval request. As a result, the merchant will not
be debited for the transaction amount, unless the request turns into a
chargeback due to non response.
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Chargeback
Details
I.
First Chargeback Phase:
A Cardholder writes a letter or fills out a “Dispute
Resolution Form” and submits it to their Credit Card Issuing Bank.
The Issuing Bank then processes a chargeback along with the “Chargeback
Documentation” (i.e. Cardholder letter) through the corresponding
Association (Visa or MasterCard) and thus is credited the disputed transaction
amount. The Acquirer or “Merchant Bank” then receives notification
of the Chargeback upon receipt of the “Chargeback Documentation”
and is subsequently debited for the disputed transaction amount. At this
point the Acquirer internal database assesses the Merchant a “Chargeback
fee”. Acquirer’s systems then run the Chargeback through a
series of simple filters to check to see if the Merchant issued credit
and for certain technical errors. At this point one of two scenarios occurs:
| 1. |
|
If, via the filters, the Chargeback is deemed invalid,
Acquirer “Reverses” the Chargeback back through the Association
and eventually back to the Issuing Bank along with a debit for the
disputed amount. The Acquirer is then credited for the amount in dispute.
The Chargeback fee remains on the Merchant’s account as this
is a fee charged by the Associations as a cost for processing the
Chargeback. This “First Chargeback” phase of the dispute
is then considered “Resolved To the Issuing Bank” and
will remain closed unless the Issuing Bank initiates a “Pre-Arbitration”
notification (Visa) or a Second Chargeback (MasterCard). |
| 2. |
|
If, via the filters, the Chargeback is deemed valid, the Merchant’s
business checking account is immediately debited for the amount in
dispute and a letter is sent to the Merchant the same day advising
of the debit and explaining what, if any, documentation is required
to “Reverse” this Chargeback. This “First Chargeback”
phase of the dispute is then considered “Resolved to the Merchant”
and will remain closed until the Merchant responds back to the letter
sent to them. |
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II.
First Reversal Phase:
If the merchant does indeed respond with a “Merchant
Letter” back to the Acquirer, a “Reversal Phase” of
the dispute is opened and a Chargebacks Analyst will review the Merchant
Letter and will see if the merchant’s response and the overall dispute
qualify to be “Reversed” back to the Issuing Bank. At this
point, one of two scenarios will occur:
| 1. |
|
1. If the Chargebacks Analyst deems the Merchant’s
response as invalid, they will close out this phase
as “Request Denied” and will mail a letter to the Merchant
explaining why the Chargeback cannot be reversed back to the Issuing
Bank at that time. |
| 2. |
|
2. If the Chargeback Analyst deems the Merchant’s response
as valid, the Acquirer “Reverses” the
Chargeback back through the Association and eventually back to the
Issuing Bank along with a debit for the disputed amount. The Acquirer
is then credited for the amount in dispute and in turn credits the
Merchant’s business checking account. The Chargeback fee remains
on the Merchant’s account as this is a fee charged by the Associations
as a cost for processing the Chargeback. This “First Reversal”
phase of the dispute is then considered “Resolved To the Issuing
Bank” and will remain closed unless the Issuing Bank initiates
a “Pre-Arbitration” notification (Visa) or a Second Chargeback
(MasterCard). |
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III.
Second Chargeback and Second Reversal Phase (MasterCard only):
Once a Reversal (and the subsequent debit) is received
back at the Issuing Bank, they will then forward the “Merchant’s
Letter” back to their Cardholder for a response. If the Cardholder
wishes to pursue the dispute further, they then send in a “Rebuttal
Letter” back to the Issuing Bank and if the Issuing Bank feels that
their response is valid, will submit a Second Chargeback.
A Second Chargeback functions just like a First Chargeback, except a Chargeback
fee is not assessed and the disputed amounted is immediately debited out
of the Merchant’s business checking account. The Merchant is sent
another letter explaining what, if any, documentation is required to pursue
this dispute further. This “Second Chargeback” phase of the
dispute is then considered “Resolved to the Merchant” and
will remain closed until the Merchant responds back to the letter sent
to them. If the Merchant does indeed respond to the letter sent to them
a ‘”Second Reversal” phase of the dispute
is opened. An Acquirer Chargeback Analyst will then review the letter
and one of two scenarios will occur:
| 1. |
|
If the Chargeback Analyst deems the Merchant’s
response as invalid, they will close out this phase
as “Request Denied” and will mail a letter to the Merchant
explaining why the Chargeback cannot be pursued further at that time. |
| 2. |
|
If the Chargeback Analyst deems the Merchant’s response
as valid, they will submit a “Pre-Arbitration”
letter directly to the Issuing back advising that the Acquirer believes
the Merchant’s claim is valid and that Acquirer will request
MasterCard to make an Arbitration ruling on the dispute if the Issuer
disagrees with the Merchant’s claim.
| a. |
|
If the Issuing Bank agrees with the Merchant’s
claim, they will simply forward the funds back to the Acquirer
and the Acquirer will then credit the Merchant’s business
checking account accordingly. The dispute at this point is considered
“Successful” and cannot be re-opened. |
| b. |
|
b. If the Issuing Bank disagrees with the Merchant’s
claim, they will send a letter back to the Acquirer advising
of such. The Acquirer will then send a form to the Merchant
requesting that they sign the form which makes the Merchant
liable for Arbitration filing fees. (When MasterCard makes
an Arbitration ruling, it assesses a $400.00 filing fee to
the loser of the dispute) If the Merchant does not agree to
the fees, the Acquirer simply closes out the Second Reversal
phase of the case as “Unsuccessful”. If the Merchant
does indeed agree to the fees and submits the signed form,
the Acquirer then submits an Arbitration Request to MasterCard
directly.
| i. |
|
If MasterCard rules in the Merchant’s
favor, the Issuer is immediately debited and the Acquirer
is credited for the amount in dispute and forwards the
credit to the Merchant’s business checking account.
The Issuing Bank is also assessed the $400.00 in filing
fees and the Acquirer closes this phase of the dispute
as “Successful” |
| ii. |
|
If MasterCard rules in the Merchant’s favor,
the Issuer is immediately debited and the Acquirer is
credited for the amount in dispute and forwards the
credit to the Merchant’s business checking account.
The Issuing Bank is also assessed the $400.00 in filing
fees and the Acquirer closes this phase of the dispute
as “Successful” |
|
|
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IV.
Issuing Bank Pre-Arbitration Phase (Visa only):
Once a Reversal (and the subsequent debit) is received
back at the Issuing Bank, they will then forward the “Merchant’s
Letter” back to their Cardholder for a response. If the Cardholder
wishes to pursue the dispute further, they then send in a “Rebuttal
Letter” back to the Issuing Bank and if the Issuing Bank feels that
their response is valid, will submit a “Pre-Arbitration”
letter directly to the Acquirer advising that they feel that their Cardholder’s
claim is valid that they will request Visa make an Arbitration ruling
on the dispute if the Acquirer disagrees with the Cardholder’s claim.
The Merchant is then sent another letter along with the Cardholder’s
rebuttal advising that they need to respond within 10 days. If the Merchant
does not respond to the letter within the specified timeframes, the Acquirer
Chargeback Analyst will credit the Issuing Bank back for the disputed
amount and in turn debit the Merchant’s business checking account.
This phase of the dispute will then be closed as “Unsuccessful”.
If the merchant does indeed respond within the specified timeframe, one
of two scenarios will occur:
| 1. |
|
If the Chargeback Analyst deems the Merchant’s
response as invalid, they will close out this phase
as “Request Denied” and will credit the Issuing Bank back
for the disputed amount and in turn debit the Merchant’s business
checking account. The Chargebacks Analyst will also mail a letter
to the Merchant advising of the debit and will also explain why the
Chargeback cannot be pursued further at that time. |
| 2. |
|
If the Chargeback Analyst deems the Merchant’s response
as valid, the Acquirer will then send a form to
the Merchant requesting that they sign the form which makes the
Merchant liable for Arbitration filing fees. (When Visa makes an
Arbitration ruling, it assesses a $400.00 filing fee to the loser
of the dispute) If the Merchant does not agree to the fees, the
Acquirer simply closes out the Pre-Arbitration phase of the case
as “Unsuccessful” and will credit the Issuing Bank back
for the disputed amount and in turn debit the Merchant’s business
checking account. If the Merchant does indeed agree to the fees
and submits the signed form, the Acquirer then responds to the Issuing
Bank advising them that they do not agree with the Cardholder’s
claim. The Issuing bank then submits an Arbitration Request directly
to Visa.
| a. |
|
If Visa rules in the Merchant’s favor, all
funds remain where they are and in addition, The Issuing Bank
is assessed the $400.00 in filing fees. The Acquirer then closes
this phase of the dispute as “Successful” |
| b. |
|
If Visa rules in the Issuing Bank’s favor, they are
immediately credited for the amount in dispute and the Acquirer
is immediately debited for the same amount and in turn this
amount is immediately debited from the Merchant’s business
checking account along with the $400.00 in filing fees. The
Acquirer then closes this phase of the dispute as “Unsuccessful” |
|
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Preventing Chargebacks
Most chargeback situations arise at the point of transaction—at
the time the transaction is completed—and most can be prevented
with a little training.
Consider these tips to avoid potential chargebacks...
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Card
Present Transactions
| 1. |
|
Do not
complete a transaction if the authorization request was declined.
Do not repeat the authorization request after receiving a decline.
|
| |
| 2. |
|
If you receive a
“Call” message in response to an authorization request,
call your authorization center. Be prepared to answer
questions. The operator may ask to speak with the cardholder. If approved,
write the authorization code on the sales receipt. If declined, ask
the cardholder for another Visa card. |
| |
| 3. |
|
Make an imprint for
all card-present transactions. If you have a point-of-sale
terminal with a magnetic-stripe reader, swipe the card through the
reader for every face-to-face transaction. If the terminal isn’t
working or a card’s magnetic stripe cannot be read, key-enter
the account information and make an imprint of the embossed information
onto the sales receipt using a manual imprinter. Even if the transaction
is authorized and the cardholder signs the receipt, if the receipt
does not have an imprint of the embossed account number and expiration
date, the transaction may be charged back to you for “no imprint”
if the cardholder later denies participating in the transaction. |
| |
| 4. |
|
Obtain cardholder
signature. The cardholder’s signature on card-present
transactions is required. Failure to obtain the cardholder’s
signature could result in a chargeback for “no signature”
if the cardholder denies authorizing or participating in the transaction.
Always compare the signature on the sales slip and the signature on
the back of the card. If the card does not carry any signature, ask
the customer to show you a picture ID, and have him sign the card
at the time of purchase. |
| |
| 5. |
|
Make only one imprint
of the card for each transaction. Making more than
one imprint can lead to duplicate deposits and increase the chance
of a chargeback. If you need to redo a sales receipt because of an
error, write “VOID” across the incorrect sales receipt,
inform the cardholder, and tear up the incorrect sales receipt in
view of the customer. |
| |
| 6. |
|
Ensure that transactions
are entered into point-of-sale terminals only once—and deposited
only once. Entering the same transaction into a terminal
more than once, or depositing both the merchant copy and the bank
copy of the sales receipt with your acquirer, or depositing the same
transaction with more than one merchant bank can all result in “duplicate
transaction” chargebacks. |
| |
| 7. |
|
Ensure that incorrect
sale receipts are voided and that transactions are processed only
once. |
| |
| 8. |
|
If your establishment
has policies regarding merchandise returns, refunds, or service cancellation,
disclose these policies to the cardholder at the time of the transaction.
Your policy should be pre-printed on your sales receipts
within ¼ inch of cardholder’s signature; if not, write
or stamp your refund/return policy information on the sales receipt
near the customer signature line before the customer signs (be sure
the policy shows clearly on all copies of the sales receipt). Failure
to disclose such policies at the time of the transaction will be to
your disadvantage should the customer return the merchandise. |
| |
| 9. |
|
Deposit sales receipts
with your merchant bank as quickly as possible, preferably within
one to five days of the transaction date—do not hold on to them.
Failure to deposit in a timely manner can result in chargebacks for
“late presentment.” |
| |
| 10. |
|
Deposit credit receipts
with your acquirer as quickly as possible, preferably the same day
as the credit transaction is generated. Failure to
process credits in a timely manner can result in chargebacks for "credit
not issued." |
| |
| 11. |
|
Keep customers informed
on the status of their transactions. |
| |
| 12. |
|
If the merchandise
or service to be provided to the cardholder will be delayed, advise
the cardholder in writing of the delay and the new expected delivery
or service date. |
| |
| 13. |
|
If the merchandise
ordered by the cardholder is out of stock and delivery will be delayed
or this item is no longer available, advise the cardholder in writing
and offer the cardholder the option of purchasing a similar item or
canceling the transaction. Do not substitute another
item unless the customer agrees to accept it. By giving the customer
notice and the option to cancel, you may help avoid a customer dispute
regarding the merchandise and a possible chargeback. |
| |
| 14. |
|
Ship merchandise
before depositing transaction. Don’t deposit
transactions with your merchant bank until you have shipped the related
merchandise. If customers see a transaction on their monthly Visa
statement before they receive the merchandise, it could lead to a
preventable chargeback. |
| |
| 15. |
|
When refunding a
customer, always credit the same card that was used for the corresponding
sale. |
| |
| 16. |
|
Respond to all sales
draft requests. Should
you receive a request for copy of sales draft, respond immediately.
Failure to send in copy will result in a chargeback with no representment
rights |
| |
| 17. |
|
Change printer ribbon
frequently- illegible sales drafts can also initiate chargebacks. |
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Card-not
present Transactions:
| 1. |
|
Do not
complete a transaction if the authorization request was declined.
Do not repeat the authorization request after receiving a decline.
|
| |
| 2. |
|
If a customer requests
cancellation of a recurring transaction which is billed periodically
(monthly, quarterly, annually), always respond to the request and
cancel the transaction immediately or as specified by the customer.
As a customer service, advise the customer in writing that the service,
subscription, or membership has been cancelled and state the effective
date of the cancellation. Failure to respond to customer cancellation
requests almost always leads to chargebacks. |
| |
| 3. |
|
If the merchandise
or service to be provided to the cardholder will be delayed, advise
the cardholder in writing of the delay and the new expected delivery
or service date. |
| |
| 4. |
|
If the merchandise
ordered by the cardholder is out of stock and delivery will be delayed
or this item is no longer available, advise the cardholder in writing
and offer the cardholder the option of purchasing a similar item or
canceling the transaction. Do not substitute another
item unless the customer agrees to accept it. By giving the customer
notice and the option to cancel, you may help avoid a customer dispute
regarding the merchandise and a possible chargeback. |
| |
| 5. |
|
Ship merchandise
before depositing transaction. Don’t deposit
transactions with your merchant bank until you have shipped the related
merchandise. If customers see a transaction on their monthly Visa
statement before they receive the merchandise, it could lead to a
preventable chargeback. |
| |
| 6. |
|
When refunding a
customer, always credit the same card that was used for the corresponding
sale. |
| |
| 7. |
|
Use the Address Verification
tool (AVS) and require a match on cardholder’s billing address. |
| |
| 8. |
|
Make sure the billing
and the shipping address are the same. If not, make sure you verify
the shipping address. You can search through the Yellow-White
pages, ask for a copy of a utility bill, or a copy of a Driver’s
License to confirm the shipping address. |
| |
| 9. |
|
Obtain and verify
the Card Code (CVV2/CVC2). This is the 3-4 digits
number on the back of your card (on the front for American Express) |
| |
| 10. |
|
Cancellation/Return
Policy needs to be acknowledged by cardholder - within
¼ inch of the “submit-I accept” button if Internet
merchant. Policy needs to be acknowledged with a signature on the
order form, contract, or invoice, or can be incorporated in the online
Terms and Conditions of the sale, and require the cardholder to click
on an “I agree” button. |
| |
| 11. |
|
Generate an RMA number
for submitted cancellations. |
| |
| 12. |
|
Obtain signed proof
of delivery. |
| |
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12 potential signs of Card Not Present Fraud
Keep your eyes open for the following fraud indicators.
When more than one is true during a card-not-present transaction, fraud
might be involved. Follow up, just in case.
| 1. |
|
First-time
shopper: Criminals are always looking for new victims.
|
| |
| 2. |
|
Larger-than-normal
orders: Because stolen cards or account numbers have
a limited life span, crooks need to maximize the size of their purchase.
|
| |
| 3. |
|
Orders that include
several of the same items: Having multiples of the
same item increases a criminal's profits. |
| |
| 4. |
|
Orders made up of
“big-ticket” items: These items have maximum
resale value and therefore maximum profit potential. |
| |
| 5. |
|
“Rush”
or “overnight” shipping: Crooks want these
fraudulently obtained items as soon as possible for the quickest possible
resale, and aren’t concerned about extra delivery charges. |
| |
| 6. |
|
Shipping to an international
address: A significant number of fraudulent transactions
are shipped to fraudulent cardholders outside of the U.S. Visa AVS
can't validate non-U.S., except in Canada and the United Kingdom. |
| |
| 7. |
|
Transactions
with similar account numbers: Particularly useful
if the account numbers used have been generated using software available
on the Internet. |
| |
| 8. |
|
Shipping to a single
address, but transactions placed on multiple cards:
Could involve an account number generated using special software,
or even a batch of stolen cards. |
| |
| 9. |
|
Multiple transactions
on one card over a very short period of time: Could
be an attempt to "run a card" until the account is closed.
|
| |
| 10. |
|
Multiple transactions
on one card or a similar card with a single billing address, but multiple
shipping addresses: Could represent organized activity,
rather than one individual at work. |
| |
| 11. |
|
In online transactions,
multiple cards used from a single IP (Internet Protocol) address:
More than one or two cards could definitely indicate a fraud
scheme. |
| |
| 12. |
|
Orders
from Internet addresses that make use of free e-mail services: These
e-mail services involve no billing relationships, and often neither
an audit trail nor verification that a legitimate cardholder has opened
the account. |
| |
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Visa – MasterCard Card Not
Present fraud prevention tools
Appropriate preventive action can help
reduce fraudulent transactions and potential customer disputes. Make use
of these Visa tools and controls to verify the legitimacy of the Visa
cardholder and the card in every card-not-present transaction.
|
|
| Address Verification Service (AVS) |
|
|
| Allows card-not-present merchants
to check a cardholder’s billing address with
the card Issuer. The merchant includes an AVS request
as part of the authorization and receives a result
code indicating whether the address given by the cardholder
matches the address on file with the Issuer. |
|
|
Card Code
Verification
(CVV2- CVC2) |
|
|
| This is a three-digit number imprinted
on the signature panel of Visa-MasterCard cards to
help card-not-present merchants verify that the customer
has a legitimate card in hand at the time of the order.
The merchant asks the customer for the card code and
then sends it to the card Issuer as part of the authorization
request. The card Issuer checks the card code to determine
its validity, then sends a result back to the merchant
along with the authorization. |
|
|
|
|
| Enables e-commerce
merchants validate a cardholder's ownership of an
account in real-time during an online Visa card transaction.
When the cardholder clicks "buy" at the
checkout of a participating merchant, the merchant
server recognizes the registered Visa card and the
“Verified
by Visa” screen automatically appears on
the cardholder’s desktop. The cardholder enters
a password to verify his or her identity and the Visa
card. The Issuer then confirms the cardholder’s
identity. |
|
|
|
|
|
|
|
| Enables e-commerce
merchants validate a cardholder's ownership of an
account in real-time during an online Visa card transaction.
When the cardholder clicks "buy" at the
checkout of a participating merchant, the merchant
server recognizes the registered Visa card and the
“Verified
by Visa” screen automatically appears
on the cardholder’s desktop. The cardholder
enters a password to verify his or her identity and
the Visa card. The Issuer then confirms the cardholder’s
identity. |
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