Verified by Visa - confused

reclusive46

InsideInsurance wrote: »

I suspect the proposal would be to effectively leave the VBV in place but replace passwords etc either as directly entering the pin or using the Sign or such on the existing Pin Sentry

Did see a prototype where the "PinSentry" was built into the card itself, was only a mill or two thicker than a normal card with a semi flexible LCD type panel built into it. Dont know what happened to that idea, guess production costs

This thing is though unless the retailer is using VBV, M/Securecode or Amex SafeKey they are liable for the fraud. The banks are probably quite happy keeping it like that. Making 3D secure as awkward as possible will mean retailers won't use it and the banks can blame the retailer. Maybe I'm just being cynical.

MPH80

reclusive46 wrote: »

This thing is though unless the retailer is using VBV, M/Securecode or Amex SafeKey they are liable for the fraud. The banks are probably quite happy keeping it like that. Making 3D secure as awkward as possible will mean retailers won't use it and the banks can blame the retailer. Maybe I'm just being cynical.

I work in this field now and I've done A/B testing on checkouts with VBV - and we did see a fall in conversion when it was turned on.

However, there was a corresponding fall in fraud too, that made a difference. But it wasn't the entire fall (can't recall the exact numbers right now). However, our finance department worked out that it increased profit overall (yes - lower income, but lower costs too).

Making VBV more difficult with having to get the card out ... sign a transaction etc ... will just cause even more abandonment and retailers will ignore it.

Heck - I have an HSBC account - and I don't login through the main site because it requires the calculator - but their tablet app (that does almost everything I need) will use a password and memorable word. It's just a faff when you want to check your balance - and if I'm going to buy a £2 cable from Amazon - I don't want to have to go through all that.

(Not that Amazon uses VBV - but that's not the point of that comment).

M.

MPH80

InsideInsurance wrote: »

I suspect the proposal would be to effectively leave the VBV in place but replace passwords etc either as directly entering the pin or using the Sign or such on the existing Pin Sentry

Did see a prototype where the "PinSentry" was built into the card itself, was only a mill or two thicker than a normal card with a semi flexible LCD type panel built into it. Dont know what happened to that idea, guess production costs

On that latter point - it's the most likely route for sorting this out ... but yes - it costs - and there would be higher (more frequent) replacement costs on the cards as batteries ran out and the buttons failing etc ... and the cost of changing all those pin pad slots that expect a card precisely x mm thick etc.