Visa Canada

Visa Canada

November 09, 2005 08:00 ET

Verified by Visa'R' Service Adds Dell Canada to Growing List of Merchants Looking to Enhance Online Fraud Prevention

TORONTO, ONTARIO--(CCNMatthews - Nov. 9 2005) -

Attention business, technology and consumer editors

Visa study reveals that 73 per cent of online shoppers feel more secure about buying online with Verified by Visa

Visa Canada announced today that Dell Canada Inc. has joined its Verified by Visa (VbV) program. Dell Canada joins 2000 Canadian e-commerce merchants including Via Rail, Birks, La Senza, Motorola, Telus Mobility and 56,000 businesses around the world looking to enhance online fraud prevention.

The Verified by Visa 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.

Michael Lombardo, head of Dell Canada's consumer business commented: "Dell has long been a leader in providing the latest security to its customers purchasing their technology online. Adding the VbV program to our existing verification process will help enhance the shopping experience for our customers."

To promote the new program, Dell Canada customers who make a purchase at dell.ca using their Visa card and Verified by Visa password between November 7th and December 18th will be automatically entered to win one of three grand prizes of a 50-inch DELL™ HD Plasma TV, and a daily prize of a Dell DJ Ditty™ for the duration of the contest period.

An October 2005 survey(a) conducted by Visa demonstrated that shoppers feel better about purchasing goods online from merchants that use the latest security measures to protect themselves and their customers. Included among the survey's findings:

- 61 per cent would prefer to buy at a merchant site participating in the VbV program.

- 55 per cent are more likely to make a purchase online if the merchant participates in the VbV program.

- 73 per cent would feel secure about purchasing online using their VbV password.

- 68 per cent would feel secure with an unfamiliar merchant who participates in the VbV program.

"The survey results clearly show that security is top-of-mind for Canadians shopping online," said Mike Bradley, vice president of Emerging Technologies at Visa Canada. "The Visa card is the most widely used payment method at Canadian websites and Verified by Visa is a vital part of our commitment to enhancing payment security."

In Canada, almost one million Visa cardholders have registered for a personal Verified by Visa password through their financial institutions. With more than 80 per cent of online purchases made by credit card, it's not surprising that tens of thousands of cardholders register each month.

It only takes a few minutes for cardholders to register for their Verified by Visa password at 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 instantly with Verified by Visa when they are making an online purchase at participating merchants.

Visa Canada forecasts that online sales in Canada are expected to grow to more than $15 billion in 2006 and Visa has taken a leadership position in securing online payments. The Verified by Visa service is only one of many initiatives that Visa has taken to enhance the integrity of the electronic payment system for Visa cardholders and merchants.

Additional programs that Visa has implemented to protect cardholders include:

- Zero Liability: Provides cardholders with protection against unauthorized use of a lost or stolen card. Should there be any fraudulent use of a cardholder's Visa, the cardholder is completely protected and will pay nothing for these unauthorized charges.

- Neural Networks: Purchase transactions are monitored for potential fraud 24 hours a day, seven days a week. The Visa neural network has extremely powerful predictive capabilities that can identify anomalies in spending behaviour, allowing Visa to quickly alert its card issuers of possible fraud.

- The Visa E-Promise: Assures Visa cardholders that if they have tried, and have been unsuccessful in resolving a dispute with an online, phone order or mail order merchant, they can contact their Visa card issuer directly to help resolve the dispute.

About Visa Canada

As the "World's Best Way to Pay®," VISA® is the leading payment brand in the world. Twenty-one thousand financial institutions worldwide rely on the Visa processing system, VisaNet®, to facilitate $3 trillion (USD) in annual transaction volume with virtually 100 per cent reliability. VISA has unsurpassed global acceptance at more than 20 million locations including more than 840,000 ATMs. Within Canada, 23 Member financial institutions have issued 25 million VISA cards, accounting for $136 billion in annual sales volume in 2004. For more information, visit www.visa.ca.

For further information, or to arrange an interview, please contact:
Amy Cole, Visa Canada, 416-860-3938, acole@visa.com

Note to editors:

™ The Dell name and Dell DJ DITTY are trademarks of Dell Inc.

(a) A national sample of active Visa cardholders who shop online were surveyed using Greenfield Online's internet panel. Cardholders who already have VbV were excluded from the sample. Results are accurate to within plus or minus 3.6per cent nineteen out of twenty times.

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