According to Visa to introduce new program to boost online transactions , Visa wants to introduce the Verified by Visa program in the Philippines.
Visa International Philippine country manager Jim Dixon said the VBV program would target mainly a younger generation of Visa cardholders who have expendable income and who are familiar with the use of the Internet.
To build a network of merchants and issuing banks that will accept VBV-registered cards. Though there are existing merchants accepting Visa cards for payment, the VBV program ensures additional security measures to prevent fraudulent transactions.
Will this make it easier for online merchants to set up stores? At present, the credit card issuer banks make it difficult to accredit companies for online payment, citing the fraud risks among others. Will the Verified-By-Visa make it easier, since it’s now the principal pushing for it?
Will this be open to the vast majority of card holders – especially the youth market they are targeting – who don’t have US Dollar credit cards?