Visa, a global payments technology company, has launched its ‘Future of Security Roadmap’ for Bangladesh, with a detailed plan to further strengthen payment security over the coming three years.
The blueprint to payment security includes adoption of EMV® 3DS protocol, a messaging protocol that promotes frictionless consumer authentication and enables consumers to authenticate themselves with their card issuer when making card-not-present (CNP) e-commerce purchases, by all local issuers of Visa credentials, a press release of Visa said on Wednesday.
In addition, Visa recommends that merchants support in-app tokenisation for mobile transactions and payment security, it said. By tokenising customers’ credentials, merchants can add another layer of security and better manage the customer journey and payment data, said Visa.
The roadmap also envisages ATM EMV migration to further secure the ecosystem and clients further strengthening their capabilities by deploying real time fraud monitoring tools, it said.Launching the roadmap, Visa head of risk (Asia Pacific) Joe Cunningham said, ‘The global pandemic has driven more consumers and businesses across the world to adopt digital commerce.’
‘As new users get more familiar with digital payments, whether paying online or with a contactless card at a store, it is important that the experience is convenient, fast and secure,’ Joe said.
‘Visa’s Future of Security Roadmap for Bangladesh will help the ecosystem here in meeting global standards and best practices,’ he said.
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