Online credit card frauds have been have heavily reported in recent years with innocent victims suffering financial losses due to illegal usage of their credit card information. In a survey done by VISA International (March 2002), more than 75% of consumers across key Asia Pacific have concerns with online purchases.
On the other hand, little has been reported about merchants who are the victims of such fraudulent purchases.
Besides having to write off goods and services, these merchants also suffer from financial losses and damages to their reputation. Online credit card fraud losses consist not only the possible revenue losses, there are other hidden costs that impact negatively on business bottom-lines. Some examples are man-hours, chargeback fines, fraudulent payouts and higher credit card discount fees.
In order to make credit card transactions safer for the merchants as well as consumers, the leading card associations launched the 3D Secure MPI initiative.
Wizvision’s Wiz-ePay 3D Secure MPI solution is currently certified by the following cards associations:
• Microsoft Windows Server OS
• Microsoft SQL Server
• MS SQL
• IBM Web sphere
• Oracle Web Logic
• Apache Tomcat
• Microsoft IIS version
• Apache Web Server
• Java Runtime