Verified by Visa is an exceptional service provided by First Citizens for Visa credit cardholders that enhances your online protection and trust in online purchasing with their First Citizens credit card. The Verified by Visa Service provides increased security and trust for your online purchases at major online merchants. You will enjoy the benefits of safe, secure and convenient online purchasing at their Website. This is one of the most important services offered by the Visa and MasterCard associations. This service verifies the cardholder's identity to ensure he or she is who they say they are.
With the use of a Verified by Visa sticker, you are able to prove your identity when making online purchases. Visa and MasterCard have been partnering together for over twenty years to help online merchants secure and increase their customer trust. This allows the customer to verify the cardholder's identity and the validity of the purchase. These guarantees not only benefit the cardholder, but also the online merchants who offer their products and services to the global marketplace.
When a Visa or MasterCard sticker is displayed on the online merchant's website, this automatically enrolls the customer into the program. It also enables the merchant to confirm the customer's identity and to complete the online transaction. Visa and MasterCard work closely together to bring merchants the tools to manage their credit cards as they continue to build stronger relationships. They provide merchants with the tools to detect fraudulent transactions, provide merchants with the resources to determine the risks of accepting debit and credit cards and to provide merchants with the training needed to manage and track their credit cards.
Visa and MasterCard use a three-tier process to verify cardholders. This includes performing a face to face authentication exercise when a cardholder makes an unauthorized online purchase, performing automated underwriting tests to check the applicant's ability to make purchases in line with his/her income and spending and the checks that are run against the applicants' personal assurance message. A personal assurance message is issued when a cardholder presents a valid, current, accepted and acknowledged photo ID, including one that clearly shows their face. The personal assurance message is then verified by performing automated underwriting tests to assure the applicant that their identity is true and they have the financial authority to make the purchases outlined on the application.
If a customer is unable to present a photo identification in person, their personal assurance message is verified by transmitting information about their face, signature, address and other information. If all these factors are verified, the card will then be mailed directly to the cardholder. The Visa and MasterCard logo will be added to the front of the card along with the phone number and email address associated with the account. Once the verification process has been completed, the customer will receive a permanent V Visa or MasterCard symbol in addition to a unique phone number and unique email address. The permanent V Visa or MasterCard symbol can then be used online via the participating online stores as proof of identity.
A V Visa or MasterCard is needed for most retailers to process credit or debit card payments online. A participating merchant has the option of adding a Visa or MasterCard logo to their website which will then provide an easier avenue for customers who may not have a card to pay for their purchase. This makes a Visa or MasterCard more popular than the ordinary V Visa or MasterCard. Online venues that accept only debit cards need to process credit and debit card transactions to ensure that customers continue to have access to their online accounts and to facilitate purchasing. Online retailers that do not process credit cards will not accept payments from customers who do not have a Visa or MasterCard.
An E Visa or Euro is required for European Union members to complete online transactions. These cards come in handy for non-European Union members who wish to make online purchases in Europe. The participating merchant must verify the identity of the customer before allowing the customer to proceed with the purchase. Without this authorization, the payment cannot go through. This also applies to payments made through PayPal, Money Gram or Overnight Money transfer services.
In summary, a V Visa or MasterCard is necessary to process payments online to ensure payment and receipt of goods or services. Non-Visa or Euro accepted transactions are not processed. If you want to avoid the extra costs associated with these types of payments, you should make sure to verify your identity before authorization of the online transaction. Non-Visa and Euro accepted merchants and e-commerce venues should be listed on your online business pages so that your customers can easily access them. Verified by Visa or MasterCard logos provide your customers with the ease and security that they need when making online purchases.