Auxinet PLC
03 September 2002
DataCash announces commitment to supporting Visa's 'Verified by Visa' cardholder
authentication
Tuesday, 3 September 2002
DataCash is pleased to announce its commitment to supporting the forthcoming
'Verified by Visa' and 'MasterCard UCAF' systems when they are fully implemented
early 2003. Both of these protocols are brand identities for the 3D-Secure
cardholder authentication scheme.
The implementation of 3D-Secure will enable DataCash's merchants to accept
cardholder authentication information from Visa and MasterCard issuers following
successful verification of the cardholder's identity by password, PIN, or other
issuer-approved methods. Cardholder authentication information is equivalent to
a signed sales voucher in the 'Card Holder Present' world and will help reduce
incidences of online fraud, while increasing both consumer and merchant
confidence for orders placed and accepted over the Internet.
The 'Verified by Visa' and 'MasterCard UCAF' systems will encourage increased
customer confidence in making online purchases - leading to increased sales.
3D-Secure also gives the merchant peace of mind that a registered customer is
indeed who they say they are.
Merchants will benefit from the Visa and MasterCard rule changes that shift
liability for fraudulent transactions not authorised by the cardholder away from
the online merchant and its acquirer to the card issuer. Currently, if an online
merchant processes a transaction that the cardholder claims they did not
authorise, the merchant ultimately bears the costs.
DataCash is working closely with all it's merchant Acquirers to ensure that the
implementation of 3D-Secure systems is done as smoothly and efficiently as
possible.
For more information please contact Gavin Breeze at gavin@datacash.com
This information is provided by RNS
The company news service from the London Stock Exchange