Visa has launched its 'Verified by Visa' Smart Card online security process in the Asia-Pacific (APAC) region with the announcement that the ANZ bank will be the regional bank to sign on.
Verified by Visa is a new consumer service that adds greater online security to Visa credit and debit cards. The program enables participating card-issuing banks to validate a cardholder’s identity through the use of a password during the online checkout process.
ANZ Managing Director Cards and e-Payments Brian Hartzer said that ANZ had recently launched its smart card called ANZ first, which allows the bank to add additional applications to benefit the bank’s customers.
“As a result, the ANZ chip cards now offer cardholder identification through Verified by Visa, protecting them against the unauthorised use of their ANZ chip cards when shopping online at participating stores.” commented Mr Hartzer.
The bank intends to launch an 'Online Shopping Mall' for users of its ANZ First Smart credit card which will see card holders issued with a free Smart Card reader. Under the programme, ANZ is upgrading one million credit cards and 80,000 merchant terminals to accept the Smart Card technology.
Merchants to have signed up to ANZ's Verified by Visa programme include GreenGrocer.com.au, Roses Only, Lush Flowers, Sanity Music, Country Road, shopfast.com.au, Kikki-K and Magshop. Replacement of the majority of ANZ-branded Visa cards and merchant terminals is expected to be completed by September 2002.
