With the cardholder's issuing bank responsible for loss liability, businesses have added protection and security for their online orders.
Chesapeake, VA (PRWEB) October 3, 2007
CDGcommerce, a leading Internet merchant credit card processor, announced today the release of its free Verified by Visa/MasterCard SecureCode feature, powered by the Quantum Payment Gateway. With CDGcommerce and Quantum Payment Gateway, merchants receive full integration of the Verified by Visa/MasterCard SecureCode feature at no charge, all-inclusive with CardAuthenticate™. Another exclusive industry first from CDGcommerce.
With built-in technologies such as CardAuthenticate™ cardholder authentication for Verified by Visa and MasterCard SecureCode, merchants can take advantage of the significant cost savings by protecting their accounts from chargebacks. According to Chris West, CEO of CDGcommerce, "By utilizing this technology merchants will be able to help eliminate chargebacks for nearly 60% of the most common reasons - including Unauthorized Transactions and Stolen Cards."
Verified by Visa/MasterCard SecureCode is the industry's only anti-fraud technology directly sponsored by Visa and MasterCard. "We include this feature entirely free, built-in to the Quantum Payment Gateway." Additionally, "This feature is rare for merchant account services. To obtain a Verified by Visa/MasterCard SecureCode service, a merchant typically incurs a setup fee and a per transaction fee. With CDGcommerce, there are no per transaction fees or setup costs," said West.
When the Verified by Visa/MasterCard SecureCode feature is turned on for CDGcommerce merchants, enrolled Visa/MasterCard cardholders will be prompted to enter their special password and the system will immediately move to the next screen. If they are not enrolled, the prompt will be skipped. "Even if the cardholder is not enrolled, substantial protection is still provided to CDGcommerce merchant account holders," said West.
Utilizing the Verified by Visa/MasterCard SecureCode shifts loss liability for payment processing from the merchant to the cardholder's issuing bank. West said, "With the cardholder's issuing bank responsible for loss liability, businesses have added protection and security for their online orders." The added protection and security can add up to significant savings by reducing fraudulent chargebacks.
Established in 1998, CDGcommerce has quickly become a prominent leader in online credit card processing for merchants across the U.S. As an award-winning merchant provider and online credit card transaction processor, CDGcommerce has a reputation for providing world class Internet, retail and wireless payment processing services and develops many pioneering technologies to help merchants successfully reduce the risks of online credit card processing and defend against fraud and chargebacks.
For more information about CDGcommerce, visit http://www.cdgcommerce.com.
VP, Business Development