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Visa Reports Strong E-Commerce Growth, Increased Adoption Of Verified by Visa

Fraud Prevention Tool Spurs Consumer Confidence and Merchant Sales in E-Commerce

SAN FRANCISCO--(BUSINESS WIRE)--June 29, 2004--During the first quarter of 2004, e-commerce spending in the United States on Visa branded credit and debit cards reached $22.3 billion. Through May 31st, Visa USA's year-to-date e-commerce dollar volume increased 59 percent over the same period in 2003.
Driven in part by innovative online security programs like Verified by Visa(R) that protect Internet shoppers, Visa's growth in e-commerce is outpacing last year's gains. In 2003, Visa debit and credit card e-commerce volume increased by 53.2 percent to a total of more than $60.4 billion. At the same time, the number of transactions grew 44.5 percent, to more than 722 million.

Consolidate Student Loans "Clearly, Verified by Visa is helping consumers feel more secure about using their Visa cards to make purchases online, which is the best way to ensure that e-commerce volume continues to grow," said Jim McCarthy, senior vice president of emerging technology at Visa USA. "Verified by Visa is an innovative way to address the two key priorities all online retailers share: driving sales volume and managing risk."

We only accept VISA cards that are "Verified by Visa" at this time for gift certificate purchases. To find out whether your VISA card has been "Verified by Visa", please check with your card issuer. You may also wish to about "Verified by Visa" at visa. verified.

Home Equity Loans Today, more than 9,000 Visa issuers worldwide offer Verified by Visa, making it available to more than 250 million debit and credit cardholders. These cardholders can shop safely knowing their account information is guarded at more than 17,000 Internet retailers, and that the rate of merchant acceptance continues to grow.

Simply activate your card and create your personal password. You'll get the added confidence that your Visa card is safe when you shop online. It's quick and easy. You may activate now by entering your card number over Visa's secure server. If your card issuer is participating in Verified by Visa (most issuers are) you'll complete a brief activation process. You'll verify your identity, create your Verified by Visa password and you're done.

Home Equity Loan Rates Visa USA has recently reached agreements with several key e-commerce players to adopt the Verified by Visa. Among the major companies that have recently implemented Verified by Visa are: CompUSA, one of the nation's leading retailers and resellers of personal computer-related products and services; JetBlue Airways, the rapidly-expanding, low-fare air carrier; Digital River, a leading e-commerce outsourcing provider; and 2Checkout.com, a provider of turn-key e-commerce solutions for business worldwide.

Homeowner Loans As part of its efforts to build consumer awareness of Verified by Visa, the company has launched a new online advertising campaign. The series of ads focuses on the message of "prevention," and uses familiar consumer goods to convey the tangible consumer benefits of Verified by Visa.

Please make sure the credit card that is being used to order the gift certificate is a "Verified by Visa" enabled card. This helps cut down fraud and protects your online purchase. Only a Verified by Visa credit card can be used for gift certificate purchases. Regular purchases do not have this requirement. Please refer to your issuing bank to see if they participate in the Verified by Visa program. If your card is already Verified by Visa enabled, then a failed transaction may be due to an error with the banks verification server, and we would suggest that you try again later when the bank's servers are experiencing less traffic. If your Verified by Visa card fails to authenticate then you may have entered the wrong info or your card has not yet registered for the Verified by Visa program.

Equity Loan Rates The seven-month campaign is designed to increase both awareness and activation of the service. Advertisements will be featured on major Internet portal, news and shopping sites including AOL, Yahoo!, CNN, Disney, USAToday.com, NYTimes.com and Shopping.com. "We want to make sure consumers understand the simple, effective tool they have available to them through Verified by Visa - and how it can help them feel confident making purchases online," McCarthy said.

Verified by Visa protects your existing Visa card with a password you create, giving you assurance that only you can use your Visa card online. Simply activate your card and create your personal password. You'll get the added confidence that your Visa card is safe when you shop at participating online stores. Once your card is activated, your card number will be recognized whenever you purchase at participating online stores. You'll enter your password in the Verified by Visa window, your identity will be verified, and the transaction will be completed. In stores that are not yet participating in Verified by Visa, your Visa card will continue to work as usual.

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Second Mortgages Even as the e-commerce channel continues to grow rapidly, consumers remain concerned about sharing personal information online. In fact, a recent Visa survey showed 83 percent of respondents would feel more secure while shopping online if they were presented with a payment card authentication option, such as Verified by Visa.

Federal Consolidation Loan Online merchants are increasingly taking steps to bolster their security efforts at check-out and further boost confidence among their existing and new customers. Many of America's leading online merchants, e-commerce solution providers and card issuers have chosen to implement Verified by Visa because of its ability to increase online sales volume, reduce fraud and decrease the costs associated with resolving fraud-related disputes.

Equity Loan "Our research shows that implementing Verified by Visa greatly improves consumers' perceptions of online merchants, and increases the likelihood of repeat customers," said James Van Dyke, analyst for Javelin Strategy & Research.

Refinancing With Bad Credit For merchants, Verified by Visa is an important tool in helping to reduce fraud. Merchants also benefit from protection from liability for fraud-related chargebacks on consumer transactions, even if the consumer or issuing bank is not participating in Verified by Visa, with limited exceptions. As a result, some merchants using Verified by Visa have reported significantly reduced fraud-related chargeback volume, in some cases up to 100 percent.

Home Equity Line Of Credit Additionally, Visa has implemented a five basis point discount on interchange reimbursement fees applied between the merchant's bank and the cardholder's bank for all Verified by Visa transactions. Actual merchant pricing, including application of any discount for Verified by Visa transactions is determined solely by the merchant's acquiring bank, subject to agreement between the merchant and their bank.

Federal Consolidation "Security and confidence are absolutely vital to the continued growth of online commerce, and Visa is committed to making the channel appealing for shoppers and secure for merchants," said McCarthy.

Equity Loans Verified by Visa is one more layer of fraud protection and prevention Visa offers merchants and consumers. In addition, although online card fraud is rare, all Visa debit and credit cardholders are protected by Visa's Zero Liability commitment, which means consumers won't have to pay for any unauthorized purchase on their Visa card. Visa's Zero Liability commitment surpasses protections mandated by federal regulations.

Student Loan Consolidate Through significant investments in technology, cooperative efforts between Visa, its member financial institutions and law enforcement agencies, and through a wide variety of educational initiatives, the incidence of Visa-system fraud in recent years is at an all-time low, even as the volume of Visa card transactions has grown dramatically.

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Home Loans Refinancing Visa's efforts over the past 30 years to protect consumers and merchants have driven fraud to an all-time low in the Visa system. However, fighting fraud remains a priority for Visa and its financial institutions. That's why Visa utilizes innovation and technology to create multiple layers of fraud protection and prevention. To help protect against fraud for both Internet shoppers and merchants, Visa has developed an innovative safeguard called Verified by Visa. After registering for the service through their bank, cardholders simply enter a password during the normal checkout process at participating stores. By verifying the password, the consumer's bank confirms the cardholder's identity. This authentication process is fast, easy and does not require any additional software. Since only the legitimate cardholder is able to use the card on the Internet, consumers gain confidence in their shopping experience, knowing they are secured against future fraudulent use. This additional layer of protection also helps merchants reduce fraud by confirming that a cardholder is who they say they are. Since 2001, Verified by Visa has helped millions of consumers shop safely at thousands of e-commerce sites worldwide. Merchants and consumers can visit www.visa.com or www.visa.com/verified for more information.

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Student Loan Refinance Visa is the world's leading payment brand and largest consumer payment system, enabling banks to provide their consumer and merchant customers with a wide variety of payment alternatives. Nearly 21,000 financial institutions worldwide rely on Visa's processing system, VisaNet, to facilitate $2.5 trillion in annual transaction volume with virtually 100 percent reliability. Consumers in more than 150 countries carry more than one billion Visa-branded cards, accepted at millions of locations worldwide. Within the U.S., nearly 14,000 financial institutions issue 396 million Visa cards, accounting for more than $1 trillion in annual transaction volume. Visa offers a trusted, reliable and convenient way to access and mobilize financial resources - anytime, anywhere, anyway.

Equity Home For visuals of the advertising creative, please e-mail: elswanso@visa.com.

Home Line Of Credit Contacts

Home Equity Poor Credit
Visa USA
Elvira Swanson, 650-432-8352

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