Visa ‘committed to more secure e-payment’
BUSINESS| Feb. 16, 2012, 9:38 a.m.
By Carole Kimutai, Nairobi, Kenya
In line with its commitment to help minimize fraud and protect cardholders, Visa is hosting the Sub-Saharan Africa Regional Fraud Council in Kenya this week.
The Council draws attendees from selected member banks across the entire Sub-Saharan region who will attend a two-day meeting to work toward ensuring the safety and integrity of the regional card payment system infrastructure.
“Tackling potential fraud is critical to success in any market. We are able to call on global experts to come to Nairobi to share their experiences and start an ongoing conversation as part of the constant battle against fraud. The Regional Fraud Council is a vehicle for the entire market to benefit from collaborative effort,” said Victor Ndlovu, Visa Country Manager, East Africa.
An important tool in the battle against fraud is collaboration amongst peer banks and across borders. This two-day event is an opportunity for attendees to learn about Visa’s Payment System Risk Strategy and to share its message with their respective country risk forums. It is also an important opportunity for Visa to gain first-hand understanding about the challenges the respective countries are facing and to assist in building effective roadmaps to combat fraud.
“Visa employs multiple layers of security that work together to help manage fraud. From anti-counterfeit features to network-based fraud detection to data security standards that help keep sensitive information secure, we are committed to leading the industry toward a more secure, trusted payment system,” said Bryce Thorrold, head of the Visa Sub-Saharan country risk management team.
Thorrold added: “While payments fraud remains at historic lows, we must stay vigilant to protect cardholder data from misuse. To do that, we must protect each link in our system and work with others to maintain and enhance trust in Visa as the most secure way to pay and be paid.”
Visa’s approach is to minimize fraud in the payment system by building policies, tools and technologies that will help prevent fraud before it happens; protect vulnerable card data wherever it is stored, processed or transmitted throughout the payment system; and monitor and manage fraud to ensure prompt response and minimize impact to stakeholders, including cardholders.
MORE BUSINESS NEWS
Lack of technology bane of Nigeria’s SMEs, says Matt O’Bell chiefAside financial constraints, the non-application of technology has been identified as one of the constraints of small and medium enterprises (SMEs) in Nigeria. Read More
Telecom M&A and digital convergence to lead deal activity in AfricaTMT Finance is teaming up with IHS Towers, the largest mobile telecommunications infrastructure provider in Africa, Europe and the Middle East, to bring an international audience to Africa’s technology hub, Lagos, for the first event of its kind in Nigeria. Read More
Reach for Change Africa calls for strengthened social entrepreneurshipReach for Change Africa is calling on social entrepreneurs, NGOs and government to play their role in strengthening the social entrepreneurship sector in Africa on International Day of Youth 2016. Read More
Stanford Seed Entrepreneurs join top Silicon Valley business leaders at Global SummitAfolabi Abiodun, CEO of Nigeria-based telecommunications company SB Telecoms, couldn’t quite believe his eyes as he stood on Stanford University’s bustling Silicon Valley campus recently. Read More
Etisalat, YuuZoo launch e-commerce portal for SMEsNigeria’s most SME-friendly telecommunications operator, Etisalat, in partnership with Singapore’s YuuZoo Corp, has unveiled a bespoke e-commerce platform, SME Arena, to facilitate the growth of Small and Medium Enterprises (SMEs) in Nigeria. Read More
Mstore plans $50m African expansionMidcom Group has announced expansion plans aimed at making its Mstore the largest mobile and electronics retailer in Africa. Read More
*astTECS Expands Operations in Africa*astTECS, a leading provider of Enterprise Telecom Technology Products and Asterisk based Open Source Communication Solution, is expanding its Africa footprint with a presence in Ghana and Botswana. Read More
The Tech Revolution: Sage Sets out the Vision for African BusinessesSage, a market leader in cloud accounting software used its global Sage Summit 2016, held this week in Chicago, to outline its strong commitment to future technologies, with a focus on new and existing initiatives that power business growth. Read More
Francistown Barclays gets cardlessCardless cash deposits have been launched in Francistown. Read More
Business incubator to boost 200 Zimbabwean entrepreneurs200 would-be Zimbabwean entrepreneurs are set to benefit from business training and support, thanks to a business development programme to be launched by business incubation specialist KBA Africa. Read More
FEATURED STORYFinancial services sees AI as both opportunity and threat
Banking is already a key area where technology is having an impact throughout Africa, and a new survey assesses the impact artificial intelligence will have on this sector.
BEST READ NEWS
IN DEPTHAccess and Use of ICT stats released
Statistics Botswana has released the first results of the 2014 Information and Communication Technology Household Survey.