Barclaycard and Visa join forces to provide safer online shopping

Internet Business News, June 1, 2005

INTERNET BUSINESS NEWS-(C)1995-2005 M2 COMMUNICATIONS LTD

Credit card company Barclaycard has announced that it has made its service more secure for customers by signing up to Visa's payment card protection system, Verified by Visa. The service has been rolled out to cardholders since May 2005.

The company has become the most recent card issuer in the UK to sign up to the online authentication service. The service offers a password-protected system that guarantees cardholder identity when shopping on the Internet and is estimated to reduce the number of disputed online transactions by up to 80%.

Cardholders need to provide a personal password when paying for goods online, ensuring that the shopper is who they say they are when providing card details to an online shop. To date Verified by Visa has been adopted by 80% of US banks, and acquiring banks registered for Verified by Visa in the UK now cover more than 90% of UK e-commerce traffic.

Cardholders can sign up to the service at http://www.secure.barclaycard.co.uk.

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