Visa Fixes Authentication Problems
E-retailers had stayed away from an authentication program, fearing the loss of sales.Visa has dealt with problems online merchants were having with its Verified by Visa authentication program, according to Mike Yakel, vice president for risk product development. E-retailers had complained the program would create pop-up windows that would drive customers away. Visa has tried to make the information given to consumers more understandable. ”The cardholders need to understand what is being asked of them so they can complete those transactions, as opposed to being confused and picking up the phone and calling the bank wondering what’s going on,” Yakel said.
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