Visa Secure serves as Visa’s implementation of the advanced 3-D Secure 2.0 anti-fraud protocol. This powerful tool combats fraud by adding an additional layer of security during checkout, requiring cardholders to undergo a second authentication step, independent of the initial login process on the merchant’s site.
Multi-factor authentication, a key feature of Visa Secure, proves highly effective in thwarting typical credit card fraud attempts. While fraudsters may easily acquire stolen payment credentials, gaining access to a victim’s personal devices or email account is significantly more challenging. By mandating purchasers to verify their identities through these secure channels, merchants create formidable barriers that most fraudsters will struggle to overcome.
Previously, Visa employed an earlier version of this security tool known as “Verified by Visa” which utilized passwords created by cardholders for authentication during checkout. Although it is still in use, Visa Secure has been designed to offer even higher levels of security and a smoother user experience for cardholders.
Visa Secure, along with other 3-D Secure implementations, effectively addresses the issue of straightforward credit card fraud, where fraudsters use someone else’s credit card number after creating their own login. It also provides protection against account takeover fraud, wherein fraudsters attempt to make purchases using payment credentials stored in someone else’s hacked account. In both scenarios, the lack of access to the victim’s devices or email serves as a significant deterrent, preventing the fraudsters from completing their illicit transactions.
Written by Andrii Vovk