Visa introduces ‘Visa Secure’ – a new program for frictionless payments and improved online experienceTuesday, 21 April 2020 15:46
Visa Secure uses EMV® 3-D Secure specification to provide customers with a better eCommerce experience and support merchants to reduce cart abandonment
Tbilisi, April 21, 2020 – Visa Inc. (NYSE: V), the world leader in digital payments, introduced Visa Secure (previously known as Verified by Visa), an updated program to help make online payments more secure. Available across the Central and Eastern Europe, Middle East and Africa (CEMEA) region, including Georgia, Visa Secure provides rules and policies merchants and issuing banks have to follow to authenticate eCommerce transactions and verify cardholder identity before a transaction can be authorized.
Visa Secure uses the latest EMV 3-D Secure (3DS) specification, which is the new industry-wide messaging protocol designed to promote frictionless consumer authentication. It enables consumers to verify their identity with their issuing bank or other entity (issuer) when making card-not-present (CNP) eCommerce/online payments. The additional security layer helps prevent unauthorized CNP transactions and helps protect merchants from exposure to CNP fraud.
Visa Secure has been designed to provide increased fraud protection, minimize cardholder friction, and increase the completion of sales, leading to a better experience for all parties involved. For merchants, Visa Secure delivers greater fraud prevention by sharing up to ten times more data with issuers for better risk analysis and advanced decision making. This helps both merchants and issuers detect and avoid fraud more effectively. Consumers can also benefit from a smoother and consistent user experience across multiple payment channels, including mobile web, in-app and digital wallet payments, without any compromise in security.
Cristina Doros, Visa country manager for the Caucasus region: “Visa has been helping online merchants and issuers identify potentially fraudulent transactions with 3DS for nearly 20 years. eCommerce in Georgia is growing rapidly. Consumers expect always-on connectivity with mobile devices and rely on retailers to provide payment experience both secure and frictionless. That is where the new Visa Secureprogram comes into effect. Visa Secure offers significant enhancements in eCommerce fraud detection capabilities for issuers and merchants and can reduce friction for cardholders at checkout.”
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit usa.visa.com/about-visa, www.visasoutheasteurope.com, https://www.facebook.com/VisaGeorgiaGE
US Secretary of Defense Ashton Carter has said that NATO is considering deploying some 4,000 troops on a rotating basis to strengthen the alliance’s eastern flank, according to Polish Radio.
Carter said a final decision was to be made at a July NATO summit in Warsaw, Polish Radio reported. His comments confirm an earlier report in the Wall Street Journal. The paper quoted Western officials as saying that the US will probably supply two battalions, while another two will be provided by Germany and Britain respectively. The troops are to be stationed on a rotational basis in the Baltic countries and probably in Poland, according to Polish radio. Carter was speaking to journalists aboard a flight from Washington to Stuttgart, Germany. The Wall Street Journal quoted Robert Work, the US Deputy Secretary of Defense, as saying said that the “buildup was a response to more Russian activity around the Baltics – Lithuania, Latvia and Estonia – where tensions have been rising.” US media reported that the plan to send 4,000 troops to the Baltic states and Poland is separate from an earlier plan to deploy a 4,200-strong American armoured brigade to Eastern Europe.
The President of Georgia and the First Lady hosted the nominees and organizers of an international media competition “For the Cultural Diversity in Eastern Europe”. Competition with title “Adam” is being held for the first time in Georgia.
Giorgi Margvelashvili delivered a speech to the guests and marked his attention to the importance of cultural diversity:
“It is a great honor for us that media award: “For the Cultural Diversity in Eastern Europe” is being held in Georgia.
Georgia is historically characterized with a variety and is composed as a country thanks to this diversity. During our three thousand years history Golden Era of our statehood is related to the acknowledgment, strengthening and development of this diversity. When we are thinking about our successes which we achieved as state and nation, we proudly acknowledge our culture developed as a result of diversity.
However, you should never be self-complacent with achievements of your ancestors if you are not able to resurrect these achievements and protect these values. We must resurrect in today’s reality these achieved successes which were kept by our ancestors and which are our identity and culture. That’s why I would like to thank all the participants for this very important process which through the media serves the multilateral involvement in contemporary life. I would like to thank you and wish you success” – stated the President of Georgia, Giorgi Margvelashvili at the event.
Director of the program, Stefan Talcgranted the project participants with diplomas.
Works created on the cultural diversity theme by the students of Pankisi Photo School Project which is funded by the Fund of the President of Georgia, were exhibited at the event.
Gala concert of the international media competition “For the Cultural Diversity in Eastern Europe” with the patronage of the President of Georgia will be held tomorrow and the winners of the competition will be revealed.
Statistical laws in focus at Riga seminar for Eastern European, Caucasus and Central Asian countriesTuesday, 02 June 2015 10:36
A high-level seminar for the National Statistical Institutions of Eastern European, Caucasian and Central Asian (EECCA) countries on statistical issues is taking place in Riga from 1-3 June.
The seminar has been organised by Eurostat on an annual basis since 2010, and is being held this year as part of the Latvian Presidency of the Council of the European Union.
This year the seminar will be devoted to quality issues, including the results of the quality review of the European Statistical System. Representatives from Eurostat will focus on the role of the national statistical system, its legal and institutional framework, and requirements for authorities responsible for collecting official statistics. Special attention will be paid to the concept of "official statistics", with discussions on which data are to be considered as official statistics.