Visa, a worldwide leader in payments technology, has entered into a partnership with Federal Bank to roll out Visa Secure to the bank’s cardholders.
Visa Secure may be a global authentication program that uses the newest standards of the EMV 3DS (3D Secure) protocol. This upgraded technology provides a quicker and frictionless checkout experience to consumers with providing additional layers of authentication for merchants and issuers to combat online frauds
Arvind Ronta, Head – Products, India & South Asia, Visa, said, “With India poised to possess 1.34 billion mobile-connected devices by 2021, e-tailers will now be faced with the challenge of balancing elegant user experiences with superior transaction security. “Visa is delighted to partner with Federal Bank to deploy Visa Secure and further enhance the bank’s specialize in customer-centric digital solutions that make online shopping experiences seamless. Visa Secure, built on EMVCo 3DS 2.0 protocol, makes e-commerce safer while reducing customer friction at the point of purchase to the growing number of internet buyers.”
Shalini Warrier, Chief Operating Officer, Federal Bank, said, “Through the roll-out of 3DS 2.0 with Visa and our technology partner, Wibmo, and our guideline of ‘Digital at the fore, human at the core’, we are confident of providing greater convenience and enriching experience to our bank’s customers once they pay online using Visa cards.”
Issuers and merchants have started deployment of Visa Secure across the world. To support EMV 3DS-based solutions, attentively on delivering better payment experience, Visa will still work with partners and clients in India, the payments technology company said.
The outbreak of Covid-19 has resulted in the accelerated adoption of online commerce and this buying behavior of Indian consumers is probably going to continue even after the pandemic. Hence, it’s imperative for merchants and issuers to reinforce the shopping experience to extend customer stickiness.
This initiative can create more smooth and consistent user experiences across multiple payment channels, including web, mobile, in-app, and connected devices. Visa Secure also allows merchants to raised integrate the authentication process into the shopping experience while providing cardholders with a simple, fast, convenient, and secure authentication. The enhanced Visa Secure platform is enriched with additional transaction attributes that create authentication seamlessly.