Visa "Zero-ing In" on Liability

Visa "Zero-ing In" on Liability

Posted by John B. Frank Tuesday, January 13, 2009

Zero Liability Helps Protect Canadian Visa Business Cards

Additional fraud protection adds value for Canadian small businesses

Visa Inc. (NYSE: V) announced today in Canada an important expansion of its Zero Liability program, which will now include Visa Business cards issued by Canadian financial institutions. The move can help better protect Visa Business cardholders from losses due to fraudulent transactions.

In a consumer survey(i) of more than one thousand Canadian Visa cardholders, 80 percent of respondents indicated they were extremely or very interested in having Zero Liability protection on their Visa card, with 30 percent ranking Zero Liability as the most appealing feature.

"Visa Business cards offer many benefits to small business owners in Canada and the addition of Zero Liability is another reason for them to use a Visa card with confidence," said Kareem Chouli, Head of Commercial Solutions in Canada, Visa Inc. "Security is a priority for Visa, and the Zero Liability policy is an important layer of our fraud prevention efforts."

Visa's Zero Liability policy protects business cardholders against fraud exactly the same way as it protects personal cardholders. Zero Liability means that business cardholders who have been victims of credit card fraud, including unauthorized transactions made via telephone or on the internet, do not pay for fraudulent transactions. Zero Liability does not apply to transactions with Visa Corporate or Visa Purchasing cards.

Personal Visa cardholders, including those who have been issued a Visa chip and PIN card, from Canadian-issued financial institutions will continue to be protected by the Zero Liability policy. All Visa cardholders must comply with the terms of their cardholder agreement including protecting their PIN where applicable.

With Visa Business cards, small businesses can conveniently manage their finances by separating business and personal spending, and tracking and analyzing expenses online. Online resources at visa.ca/smallbusiness include free business tools and guides, articles, as well as information about the Visa Savings for Business program - offering exclusive discounts to Canadian Visa Business cardholders.

Source: Press Release

Canada, Debit card, Fraud, Visa

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