Visa pushes for two-factor authenticated transactions

http://en.wikipedia.org/wiki/Visa_Inc.

Payment technology company Visa is attempting to drive Australian uptake of its 3-D Secure offering, which adds more security to online payment transactions to reduce credit card fraud.

Last month, a joint strike force took down a counterfeit credit card manufacturing operation in Sydney, New South Wales, potentially stopping AU$5 million in fraudulent transactions. But what has Visa worried is the increase in online fraud, which is categorised as “card not present” frauds. This makes up 71 per cent of credit card fraud that is committed in Australia.

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Story added 22. August 2012, content source with full text you can find at link above.