Online Shopping Verification – Overview

Over the last several years, shopping online is a convenience that most consumers cannot do without. As an Internet shopping site, you want to reach millions of users and offer your products and services for sale on the Internet. You also want to reduce your losses from unauthorized transactions. But, the rise in stolen credit and debit card account numbers are threatening to force some consumers back to the brick and mortar stores. You want to use the 3-D Secure Authentication programs offered by Visa, MasterCard and JCB, to reduce your liability but are worried about transactions being abandoned.

As a card processor, you want to reduce fraudulent transactions and the financial implications associated with reimbursing your merchants and cardholders. You want to increase the use of cards for online shopping but you need additional authentication and verification that an unauthorized user is not using your cardholders accounts for theft of goods and services.

During the first wave of Internet shopping the goal was to get as many users as possible to buy online. Now you need to offer those consumers identity assurance while continuing to provide a simple shopping experience. If you do not deliver on both expectations, your customers may switch to competitive shopping site or even go back to brick-and-mortar stores.

Arcot co-invented the 3-D Secure protocol with Visa in 2000 and launched our TransFort Product to support the Verified by Visa, MasterCard SecureCode and JCB J/Secure programs. No one understands and supports these programs better than Arcot. With 11,000 banks, over 100,000 merchants and millions of users, we provide products and services that give issuers, merchants and cardholders the right balance of convenience, cost and security. In 2005, we enhanced our solutionby adding RiskFort to TransFort which identified risky transactions and forced additional authentication for those that were likely to be fraudulent.