Visa has launched an anti-fraud hardcore kit to protect the payment ecosystem

Visa has launched a new security service designed to protect sellers and users from security threats, according to media reports. These new features will help prevent and curb payment fraud to protect the payment ecosystem. Visa customers pay nothing for this service.

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“Cybercriminals are trying to bypass traditional defenses by stealing credentials, collecting data, gaining privileged access, and attacking trusted third-party supply chains, Visa’s new payment security feature combines payment and network intelligence, insights and experience gained from leak investigations, and law enforcement involvement to help financial institutions and merchants address key security challenges.” said Visa officials.

Enumerating attacks by hackers is one of the more common types of attacks, which USES ATM machines to commit fraud. Another type of attack is card-free transaction fraud, which usually affects e-commerce, telephone and mail orders. Although the latter is not common, it accounts for 40% of fraud losses and operational losses.

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The Visa organization says its latest security AIDS will help maintain trust in the payment system. Visa’s latest security tools mainly include the following aspects:

  • Visa Vital Signs actively monitor transactions and alert authorities to possible fraud at ATMs. Visa will automatically or in collaboration with the customer to stop the activity or take action.

  • The Visa Account Attack Intelligence feature effectively handles cardless transaction scams to determine when hackers are trying to guess numbers, expiration dates, or security codes through automated programs.
  • Visa Payment Threats Lab will test customer processing and configuration Settings to identify potential vulnerabilities and ensure they are using security technologies in an effective manner.
  • Visa commerce Threat Disruption will scan e-commerce sites for malicious payment data theft software.

All of these new features complement Visa Threat Intelligence, which provides reports, analysis, and information about potential threats and fraud.