Online Payments (eCommerce)

Everything You Need to Know About “Verified by VISA”

Giving an extra layer of protection to card payment transactions is essential for merchants, especially in high-risk industries like iGaming. In this case, features like 3D Secure and account holder name verification play a key role. By implementing secure payment solutions like Verified by Visa (VbV), merchants can foster a safer and more trustworthy digital experience.

Enhancing Online Transaction Security: 3D Secure & Verified by Visa

3D Secure (3DS) is a security protocol that adds an extra authentication step for online credit card transactions by involving three key parties:

The merchant or acquirer
The cardholder’s issuing bank
An interoperability domain (the technology that processes transactions)

By adding this extra authentication layer, 3DS helps merchants avoid fraudulent chargebacks, as the issuing bank verifies the cardholder’s identity. For more information, check out this blog.

3D Secure is used globally to protect online card transactions, and Verified by Visa (VbV) is Visa's implementation of this technology. VbV helps protect cardholders from unauthorized use of their cards during online purchases. This system requires customers to complete an additional verification step when making payments with their VISA cards. By adding this layer of security, the VbV program aims to reduce fraud and build trust between consumers and merchants.

How Does It Work?

When a customer shops online with a Visa card, VbV adds an extra layer of security to the transaction. Here’s how it works from the customer’s perspective:

First, the cardholder must enroll in the VbV program through their bank by creating a unique password or PIN. When shopping at a participating merchant’s site, they are directed to the VbV authentication page to enter their password or PIN. If the information matches, the transaction is approved; if not, it’s declined.

For merchants, this process offers an added level of protection against fraud, ensuring that only authorized users complete the transaction.

The Importance of Verified by VISA (VbV)

1. Enhanced Security

VbV significantly lowers the risk of fraud. With only cardholders who possess the correct password able to complete a transaction, the likelihood of unauthorized use drops dramatically.

2. Increased Consumer Confidence

Shoppers are more likely to make online purchases when they feel their financial information is secure. By integrating VbV, merchants showcase their dedication to safe transactions, which boosts customer loyalty and trust.

3. Reduction in Chargebacks

For merchants, verified transactions mean fewer chargebacks. VbV authentication serves as solid proof that the purchase was made by an authorized cardholder, minimizing disputes and lowering associated costs.

Empowering Transactions: Shift4's Account Holder Verification Advantage

We understand that security is paramount in online transactions. That's why one of our standout features is the ability to verify the account holder’s name associated with the debit or credit card used for deposits.

This verification process not only enhances protection for both merchants and consumers but also delivers several key benefits:

Improved Fraud Prevention: By confirming the account holder’s name, Shift4 ensures that the card being used truly belongs to the legitimate cardholder. This significantly reduces the risk of fraudulent activities, keeping your transactions safe.
Enhanced Trust: When the name on the card matches the account holder, it builds confidence for both merchants and customers. This level of transparency fosters trust in the transaction process, making customers feel secure in their purchases.
Streamlined Dispute Resolution: In the event of a chargeback or dispute, having verified account information allows for quicker and more efficient resolutions. This not only saves time but also conserves valuable resources for both parties involved.

With Shift4's Account Holder Verification, you can elevate your security measures, build customer trust, and simplify transaction management, all while providing a safer shopping experience.

Elevate Your Payment Security with Shift4

At Shift4, we go beyond standard practices—especially now, as more countries regulate iGaming markets. Verifying the account holder's name for card deposits is crucial to ensuring secure transactions. Adopting secure payment solutions, like Verified by Visa (VbV), is key to creating a safer and more trustworthy digital experience. This not only protects your business but also helps you stay compliant with regulatory requirements. Discover how Shift4 can enhance your payment security, give your customers peace of mind, and help you meet compliance standards today.