Merchants and punters cry foul over Verified by Visa
John Leyden of The Register writes about difficulties with Visa's new Verified by Visa as well as Mastercard's SecureCode. The programs are designed to provide extra safety measures and authenticate purchases. However, with phishers obtaining the passwords the effect is the programs wind up making it "easier for crooks to make purchases online while simultaneously making it harder for consumers to deny responsibility for a fraudulent transaction."
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