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Verified by Visa and MasterCard SecureCode?

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  #1  
Old
Web Hosting Master
 
Join Date: Mar 2002
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Posts: 785
Question

Verified by Visa and MasterCard SecureCode?


Is there many cardholders that actually use it?
Is it worth the effort in setting it up?

I would imagine that it would confuse customers or make it more difficult for them to signup if they never setup their verified by visa or securecode before.

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  #2  
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Eternal Member
 
Join Date: Jan 2002
Location: Toronto, Canada
Posts: 11,059
VbV is growing in popularity and use with great momentum. And the other cards are now under pressure to follow suit with a similar product.

We have been using VbV for a few months now and I see no resistance from customers whatsoever.

I think it's a great feature, and finally there's something that helps protect the merchant.

Vito

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  #3  
Old
Texan at Heart
 
Join Date: Jul 2003
Location: Castle Pines, CO
Posts: 7,189
Actually Host Ultra, it does not matter about the cardholder. There have been some major changes in this. It matters if you are signed up for it. When the cardholder hits submits, it first goes to another 'gateway' - if the cardholder is not registered, it will try to register them. If they decline, the payment is still guaranteed for the "I didn't do it".

Securecode is not out there as much, but it is supposed to be implemented completely by the end of the year. Visa is there.

If a cardholder does call up their CC company & says I didn't do it - it is between the issuing bank & the cardholder. You are no longer involved. There are some fees involved in this of course (about $200 set-up, $15.00 a month, $.08 a transaction), but your bank should also be giving you 5 basis points back as well. That is still be "discussed". Visa is giving this credit to the acquiring banks right now.

If you do recurring billing though - it is not all that great though. This relies on customer input. Meaning that maybe the first time they set up the recurring billing you are set, but for all those type of future payments, they are not guaranteed. There are also a few ways around this as well.


Last edited by Corey Bryant; 02-06-2004 at 11:54 AM.
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