NEWS RELEASE

Visa introduces ‘Visa Secure’ – a new program for frictionless payments and improved online experience

Visa Secure uses EMV® 3-D Secure specification to provide customers with a better eCommerce experience and support merchants to reduce cart abandonment


United Arab Emirates - April 21, 2020 – Visa Inc. (NYSE: V), the world leader in digital payments, introduced Visa Secure (previously known as Verified by Visa), an updated program to help make online payments more secure. Available across the Central and Eastern Europe, Middle East and Africa (CEMEA) region, Visa Secure provides rules and policies merchants and issuing banks have to follow to authenticate eCommerce transactions and verify cardholder identity before a transaction can be authorized. 

Visa Secure uses the latest EMV 3-D Secure (3DS) specification, which is the new industry-wide messaging protocol designed to promote frictionless consumer authentication. It enables consumers to verify their identity with their issuing bank or other entity (issuer) when making card-not-present (CNP) eCommerce/online payments. The additional security layer helps prevent unauthorized CNP transactions and helps protect merchants from exposure to CNP fraud. 

Visa Secure has been designed to provide increased fraud protection, minimize cardholder friction, and increase the completion of sales, leading to a better experience for all parties involved. For merchants, Visa Secure delivers greater fraud prevention by sharing up to ten times more data with issuers for better risk analysis and advanced decision making. This helps both merchants and issuers detect and avoid fraud more effectively. Consumers can also benefit from a smoother and consistent user experience across multiple payment channels, including mobile web, in-app and digital wallet payments, without any compromise in security.

Shahebaz Khan, General Manager for the UAE, Visa said: “Visa has been helping online merchants and issuers identify potentially fraudulent transactions with 3DS for nearly 20 years. eCommerce in the UAE is growing rapidly. Consumers expect always-on connectivity with mobile devices and rely on retailers to provide payment experience both secure and frictionless. That is where the new Visa Secure program comes into effect. Visa Secure offers significant enhancements in eCommerce fraud detection capabilities for issuers and merchants and can reduce friction for cardholders at checkout.”

About Visa’s MENA research on Consumer Attitudes and Behavior Towards Card Security, 2020

Over 620 consumers comprising 33% Gen Z (18-22 years) and 67% non-Gen Z (23 years and above) were interviewed for 15 minutes each between April and May 2020. The respondents include Emirati (15%), expat Arabs (23%), expat Asians (52%) and 10% other (including Western expats). 65% of the respondents were men and 35% were women. Respondents lived in Dubai (52%), Abu Dhabi (30%), Sharjah (16%), and others (2%). Each had a banking relationship in the UAE. The survey was conducted by 4SiGHT Research & Analytics.