GLOBAL PAYMENT card Visa has voiced concern at the growing level of frauds and payment disputes arising from web transactions. The internet currently accounts for only 1% of Visa’s £463bn European turnover, but generates nearly half of all disputes and fraud investigations. Some 22% of disputes and frauds centre on claims that the transaction never took place or that orders were not received. Visa urges a faster take-up of the SET (Secure Electronic Transaction) protocol and a speedy move towards digital signatures.
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