VISA coming up with Big Changes - Fraud detection & Tokens based new standard

Fraud Detection and Prevention:

On October 2, 2013 VISA announced an upgrade to its Visa Advanced Authorization (VAA) technology that vastly improves the ability of its processing network to detect potential fraudulent activity in electronic payments.

The global payment processor's VAA technology is used to accept, track and deny payments from cards.

According to Mark Nelsen, Head of Risk and Authentication Products, Visa Inc - cardholders, merchants and issuers all want to have convenience and be confident with the security of each Visa transaction. 'The great improvements we've made in Advanced Authorization this year were designed to do just that: fight fraud and its costs to financial institutions ...

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