Security

 

 

 

 

Keeping the Visa payment system secure

A secure payment system is fundamental to growing Visa Europe's business. As fraud and business risk constantly changes, Visa Europe’s security infrastructure never stops evolving to deal with it.

We do this by developing new security-led products and features to reduce the impact of fraud when it happens. By working closely with our members, retailers and businesses we can provide them with the right tools and support for securing transactions.

The EMV chip

Visa Europe sets the industry standard when it comes to risk and preventing fraud. Europay, MasterCard and VISA (EMV) for example, have specified and developed EMV chip card technology. Embedded in the card, the EMV chip adds a new layer of protection and has significantly reduced counterfeit fraud. And the use of a PIN to identify the genuine cardholder is helping prevent lost and stolen fraud.

Our members ensure their retailers and businesses comply with our risk management policies and practices. And in markets where chip and PIN is widespread, these types of fraud are at record low levels.

Protecting cardholder data

Fraudsters are becoming ever more sophisticated. So our attention has turned towards protecting not just the physical card, but also the data that travels through the payment system.

In 2004 Visa and MasterCard created the Payment Card Industry Data Security Standard (PCI DSS). This is a set of global and industry-wide requirements which are supported by all international payment card systems.

PCI DSS is now owned and managed by an independent industry organisation – the PCI Security Standards Council. It’s made up of representatives from all stakeholders in the card industry, such as banks, service providers, vendors, retailers and businesses.

Today, Visa Europe continues to take the lead with their new guidelines on the adoption of Data Field Encryption solutions. These support PCI DSS compliance and when used properly, they can rapidly improve security on cardholder data and reduce compliance costs. Importantly, they’re also flexible enough to complement existing security measures.

Visa Europe’s Payment System Risk (PSR) programme helps advise on and implement PCI DSS to all organisations that accept or process card payments.

Developing new e-commerce products and features

Visa cards are helping make it simple and secure to buying goods and services online, over the phone or by mail order.

Here’s how…

  • A three-digit security code – the CVV2 now appears on the back of most types of Visa cards. It ensures that a genuine card is being used when buying online.
  • Verified by Visa is a password-protected identity checking system. It counters online fraud and provides vital information to card issuers during the authorisation process. It also helps all participants in a transaction feel more confident.
  • Visa Codesure is a dynamic password authentication. It uses chip and PIN technology to generate a ‘one-time code’. This proves that the genuine card and cardholder are both present when a transaction is made.