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A Thing eVisa



I n an address at The Emerging Law of Cyberbanking and Electronic Commerce seminar in San Francisco on March 2, eVisa Chief Executive Officer Bond Isaacson noted that his organization is looking to make Visa a significant player in the Internet commerce space.

Expecting that by 2003 10% of all Visa volume will originate on the Web, Isaacson has announced that the Visa fraud limit “when purchasing online” has been reduced to zero. This move is an attempt to instill consumer confidence in using Visa branded products online, as well as the fact that fraud at Visa is at an all time low.

One of the most interesting announcements by Isaacson was his “best practices” plan as it relates to Visa card data on the Internet. Visa plans to begin reviewing how bankcard (Visa) transaction data is handled on Web sites. The review of Web sites will be conducted to determine how security is conducted. Isaacson noted that if Visa finds poor security, the Web site will have its card accepting privileges suspended.

Given eVisa’s appetite for developing new branding opportunities, and willingness to create new products, it should be interesting to see just how competitive Visa will be in Web design, security, and shopping carts. It appears that we now have a new list of “everywhere they want to be.”

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