[iwar] [fc:Visa.Offers.New.Password.Security.to.Web.Shoppers]

From: Fred Cohen (fc@all.net)
Date: 2001-12-04 11:09:14

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Message-Id: <200112041909.fB4J9Ee15736@red.all.net>
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From: Fred Cohen <fc@all.net>
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Date: Tue, 4 Dec 2001 11:09:14 -0800 (PST)
Subject: [iwar] [fc:Visa.Offers.New.Password.Security.to.Web.Shoppers]
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Visa Offers New Password Security to Web Shoppers

Reuters, 12/4/2001
<a href="http://dailynews.yahoo.com/h/nm/20011203/wr/retail_visa_online_dc_1.html">http://dailynews.yahoo.com/h/nm/20011203/wr/retail_visa_online_dc_1.html>

Credit card company Visa U.S.A. on Monday announced a new online payment
service that offers greater security to consumers who use their credit
or debit cards to pay for products they purchase on the Internet.

While most online shoppers simply have to punch in their credit card
numbers in order to make a payment via the Web, Visa now enables
participating retailers to prompt shoppers for a password when they
enter their information, preventing the possibility of having credit
card information used illegally.

Called ``Verified by Visa,'' the program allows participating banks to
immediately validate a cardholder's identity through the use of a
password during the online checkout process.

During November, 70 percent of consumers polled by Visa U.S.A. said they
would feel safer making purchases on the Web if they had a password
verifying their identity.

``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, president and chief executive of Visa
U.S.A.

Pascarella said the added password protection option will likely bolster
confidence among online browsers who, despite already being protected
against fraud if their credit cards are used without authorization, are
still leery of making payments over the Internet.

``Consumers want to know their online purchases are secure and getting
that security should not be an inconvenience,'' said Todd Penner, online
marketing director for Dell's Consumer Group, one of Visa's
participating online retailers.

``Greater consumer confidence in e-commerce ultimately means increased
online sales,'' Penner said.

Consumers wishing to sign up with Verified by Visa simply have to
register with their participating card issuing banks or through
<a href="http://www.visa.com/verified">http://www.visa.com/verified>. Registration 
is only required once, and
there is no special software required.

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