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My favorite quote from the article is:
Customers don't like it because they get taken to a third-party website to enter their information. They have a new password to remember.... Worse still, in some cases resetting the password is all too easy. Fraudsters know this...
I always wondered whether VbV and SecureCode was worth it. Does the decrease in chargebacks offset the potential decrease in conversion rate?
It's a mess of a system, and once the banks start getting more fraudulent authenticated transactions they may actually take notice of the problems. Unfortunately it's already compulsory for UK Maestro cards, and it's only a matter of time before others follow. Pity the banks haven't bothered to advertise it like they did with Chip and Pin.
Pity the banks haven't bothered to advertise it like they did with Chip and Pin.
For a while, I did see some TV ads. There was an office full of sales reps taking orders at their cubicles, and the buyer's head would physically emerge from the computer screen so that the sales rep could identify him/her. Then there was a slogan like 'if only life were that simple...' and then a quick glimpse of a VbV password page.
I don't think the ads worked; not only was the message unclear, but between watching the commercial and then seeing a VbV page days or weeks later, I just don't think the average person connected the dots.
I run into it about once a year myself when shopping...more hassle for the consumer (me), and ANOTHER password I have to keep up with, plus the time wasted to set it up to begin with.
Come to think of it, the only time I've run into it is when buying from someone using the Yahoo store thingy...
I always think to myself, "I bet this is costing them a lot of sales."
I have an ecommerce site and I would never add this. It's hard enough to get everything to work smoothly. I don't get too many chargebacks, however. Other types of sites likely get a lot more chargebacks (read: deadbeats), in which case I can understand the desire to weed out the scamsters.