Visa Canada

Visa Canada

August 30, 2007 09:00 ET

Back-to-School Shopping Easier Online With Expanding Verified by Visa® Community

TORONTO, ONTARIO--(Marketwire - Aug. 30, 2007) -

Attention: News, Assignment, Lifestyle, Technology Editors

With the number of participating merchants continuing to grow, Visa's Verified by Visa program gives Canadian cardholders shopping online, especially those in need of school supplies, an added layer of security when purchasing a wide variety of goods and services.

According to an August 2007 survey conducted by Omnitel, a division of Maritz Research, 13 percent of Canadian adults plan to shop online in the next month and, of those, one-third of respondents with children will buy items specifically for school. Half of survey respondents purchasing goods within the next month will order books, 35 percent will buy a computer or electronics and 29 percent plan to pick up fall or winter clothing.

Survey respondents planning to buy supplies for students were motivated to shop online rather than in-person for a number of reasons: 54 percent stated that it's more convenient, 27 percent said it was less expensive and 19 percent believe the selection and quality is better.

"Visa cardholders can shop with confidence on-line for school supplies, clothing or make travel arrangements, when they use their VbV password at participating sites and enjoy an extra layer of security protection," said Mike Bradley, Vice President, Products, Visa Canada.

The Verified by Visa (VbV) service ensures purchases made online with a Visa card are made by the actual cardholder through the use of a personal password. While the program enhances online fraud prevention efforts for Visa cardholders, it also helps protect merchants from criminals using stolen or counterfeit card numbers, reducing the revenue lost to fraudulent transactions and chargebacks.

According to a 2007 JC Williams Group study commissioned in part by Visa, 73 percent of Canadian online shoppers prefer to pay with their credit card. The Verified by Visa service is part of Visa's multi-layered approach to enhancing online payment security. In Canada, over three million Visa cardholders have registered for their own personal Verified by Visa password through their financial institutions.

HMV, ALDO, and Points.com join a growing number of merchants offering the VbV service. Currently, the merchant community includes Air Canada, Dell Canada, Via Rail Canada, TELUS, Future Shop, Flight Centre, Birks, La Senza, Best Buy, Fujitsu, TigerDirect, Bentley, as well as 137,000 businesses around the world.

"Helping to build customer's peace of mind by implementing Verified by Visa is good business for online merchants," continued Bradley. According to 2005 research commissioned by Visa, 73 percent of Visa cardholders felt more secure shopping online when they could use their VbV password and 68 percent felt more secure shopping at an unfamiliar online site if the online merchant participated in the program.

It only takes a few minutes for cardholders to register for their Verified by Visa password through www.visa.ca/verified. Cardholders will be directed to their financial institution's website where they can securely enter their Visa card details and choose their own personal password. Visa cardholders also have the option of registering for their Verified by Visa password, following the same registration format, during the checkout process when shopping online at participating merchants.

In addition to the Verified by Visa service, Visa offers cardholders multiple layers of protection through programs such as: Zero Liability, the Visa E-Promise, the three-digit code (CVV2), address authentication and neural networks. For more information on Visa security offerings, visit www.visa.ca/securewithvisa.

About Visa

Visa operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit www.corporate.visa.com.

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