Visa U.S.A. has debuted Verified by Visa, a new service that adds greater online security to credit and debit card payments.
The service enables participating card issuing banks to use a password to validate a cardholder’s identity during the online checkout process. This password protection gives consumers greater control over when and where their card is used, further reducing the potential for unauthorized card use on the Internet, the firm said.
“More people are spending greater amounts of time online, but when it comes to Internet purchases, some cardholders are still sitting on the sidelines,” said Carl Pascarella, CEO of Visa U.S.A in a statement. “Adding the password protection of Verified by Visa to our arsenal will bolster confidence among online consumers.”