Verified By Visa

My bank recently started using the relatively new Verified By Visa system in it’s online payment systems and I’m bloody annoyed by it. Just in case you guys don’t have that system or are unfamiliar with it I’ll tell you what it says on their website.

Verified By Visa is a simple password-protected identity-checking service that takes the risk out of online retail.

Sounds good in theory eh? In practice you’ll be on a website and about to buy something when a pop-up that is styled like your own banks site asks you to enter a memorable date or name or any other piece of security information that you’ve given to your bank. You know, the details that they tell you never to give to anyone else as it makes you liable for anyone stealing your details and using them to wipe out your life savings. To make matters worse this only happens on websites that have opted into the scheme meaning it wont always ask you for those details on every site you buy things from.

I’m livid that this has been introduced in an age when people are constantly trying everything they can to steal people’s bank details. All those e-mails that get delivered straight to my spam purporting to be from my bank (not one has actually guessed my bank yet) and asking to re-enter details are obviously con jobs and that’s the first thing I thought of when that pop-up came up on my screen asking for my security details. Now that I’ve researched the scheme I know it’s real and I’ve double checked that both my bank (they never sent anything out warning customers to expect anything like this) and the site were part of it, but still didn’t buy anything from them.

The thing is, it’s oh so easy for a site to add their own pop-up styled like whatever banks they want and asking for these details. Yes, I researched the site and the bank as well as the system. Yes they’re both legitimately a part of it. And yes, there are thousands of people out there who will get used to a system like this and start to not think twice about handing over their bank details to whichever site asks them. It’s dangerous for consumers because if people have these pieces of information about you then they pretty much have unimpeded access to your bank account. And that’s why I wont be using any site that uses the Verified By Visa system.

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16 thoughts on “Verified By Visa

  1. I'm not too fond of this either. Fraud was my thoughts when they first introduced that here. I use my Eurocard for shopping online, but they have the same thing.With only some sites actually being part of this, I tend to forget my password from using it so seldom.

  2. It really pissed me off when a supposedly reputable site asked for details my bank had repeatedly told me not to give anyone else. Finding out it's legitimate immediately made me think that people would start to fake it in order to gain security details.

  3. First of all, I've had problems with Verified By Visa 's erroneous JavaScript. When confirming payment, Opera found an error in the code and stopped the script. I had no idea if the payment had been made before the error occurred or not. In the end, I had to use Firefox (or was it IE? :yuck:) to make the payment, and I couldn't be sure that I wasn't paying for the same thing twice. :awww:It might have been the same site where I was asked to supply the account's security details to Verified By Visa as well. My first thought was "Is this for real? I've been told to never ever give this out – and no one has ever needed it before." Turns out that it was real, and so – as you say – I wouldn't be surprised to see similar scam popups around.If a genuine bank system asks the important questions that we are constantly told to never answer, it undermines the whole aim of preventing fraud. :doh:

  4. This is why I prefer cash more than a plastic. But, on the other side, I know that on line payment couldn`t be made without it.What Visa says about these popups?

  5. I shop online often, and only once has my credit card information been stolen and used. The bank covered the money that were stolen.Having said that – it's good to shop in online stores that you actually know, or ones that your friends know, and always check if the site looks "reliable" – and I also check if they've got a "real address" and phone number too.

  6. Mastercard SecureCode works better both with Opera and also it doesn't ask you for info like that, but it's still a pain. I'm glad Amazon doesn't use either of them yet.

  7. My bank tried to get me to apply for a creditcard (debt card?) with an sms. I didn't respond. Then their telemarketer called me to get me to apply for a creditcard (debt card?) I politely told them where they could shove it! So then they sent me an email, inviting me to apply for a creditcard (debt card?).They just don't geddit do they? :irked:.I don't shop online since you can only make online payments via creditcard (debt card?) from South Africa thus interfering with my freedom of religion! :knight:.

  8. πŸ˜† I just hate when they do that. Last time they called me to apply for American Express Blue card. I didn`t even want to know what is that card special for πŸ˜›

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