">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Wednesday, January 27, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Business

Visa Pushes for EMV Adoption Ahead of Card Security Week

Milcah Lukhanyu by Milcah Lukhanyu
6 years ago
in Business, Tech
7 min read
0
Jabu Basopo - Visa General Manager East and Southern Africa

Jabu Basopo - Visa General Manager East and Southern Africa

Earns VisaGlobal payments technology firm, Visa today launched a card security week campaign in Kenya to raise awareness amongst cardholders on the security features found within the EMV chip card as well as the benefits of using your Visa card for everyday spend.

“Fear of fraud remains one of the major barriers to card usage in Kenya and many other markets. We believe that greater awareness of the security measures in place as well as the advancements made in card security will enable consumers to comfortably enjoy the convenience of using their cards for everyday spend,” said Visa General Manager, Southern and East Africa, Jabu Basopo.

The plastic cards are loaded with security features to protect customers and minimize fraud and both Visa and bank systems run complementary anti-fraud measures too.

“Although tiny, the square microchip embedded in chip-enabled type of cards is one of the most powerful weapons against fraud. The microchip is virtually impossible to duplicate and powerful encryption prevents unauthorized access to information stored on it, making electronic payments safer than ever before,” said Basopo.

As opposed to magnetic stripe technology, a chip is difficult to crack. An important aspect of EMV is its use of dynamic data. Each transaction carries a unique ‘stamp’, which prevents the transaction data from being fraudulently reused, even if the data or the card is stolen. This saves banks and consumers from losing money through fraud.

Other security features found in the EMV chip card include the Card Verification Value (CVV), which is a set of three numbers printed on the back of the card either alone or as the final three numbers in a long string of digits. The CVV is never stored in the chip or magnetic stripe and assists in authenticating card-not-present payments, such as those performed online. Entering the CVV number manually proves that you are physically in possession of the card inhibiting fraudsters who have obtained your account information.

READ  BRCK, OkHi, SokoText & Lumkani Named Finalists for the €500,000 Worth 2015 INDEX Awards

Furthermore, the signature panel on the back of the Visa card has a tamper-proof design. This means that if someone tries to erase the existing signature, the word “VOID” will appear. The Visa dove hologram found on the back the card also protects consumers from fraud. Many counterfeit cards contain a one-dimensional image printed on a foil sticker. However, the true dove hologram should appear three dimensional and moves when the card is tilted back and forth.

Related posts

Safaricom’s M-PESA Bill Manager brings digital receitps, bills and invoices to businesses & landlords

January 26, 2021
0

Stranded in Lockdown? Here Are 3 Ways You Can Make Money Via Cryptocurrencies Online

January 26, 2021
0
aimbot -8

UNDP Gifts Kenya With Robots That Will Aid In Fighting COVID-19

January 26, 2021
0

Signal Adds WhatsApp Like Features That Have Made The App More Interactive

January 26, 2021
0

Visa also performs real-time fraud monitoring. This means that every time a consumer uses his or her card, the transaction is checked for unusual activity on the VisaNet system.

There are over 3.4 billion EMV payment cards in circulation worldwide as reported by EMVCo. in May 2015. The use of plastic cards in Kenya has been on a steady rise with consumers shifting from cash and cheques. There has been a notable increase in the usage of cards at Automated Teller Machines (ATMs) and at Point of Sale (POS terminals).

“Using debit cards for everyday purchases offers greater security, control and convenience compared to cash; it is also one way of ensuring personal finances are managed effectively with minimal costs for the cardholder,” Basopo added.

READ  Visa opens new regional headquarters in Abidjan, Cote D’Ivoire to acquire new clients in West and Central Africa

By championing safe financial transactions, Visa has undertaken to align its business strategy with Vision 2030, an initiative that aims to transform Kenya into a middle-income country by 2030 through six priority sectors including financial services.

Some of the consumer tips include never to share or write down or save your PIN. Always cover the keypad at an ATM or a retailer with one hand to stop people observing your PIN – stop the ‘shoulder surfers’ and walk away from an ATM if you feel unsafe & avoid using ATMs at night, particularly in remote areas and never allow people to distract you or offer to help you at an ATM.

 

 

 

Readers 1,209

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: Visa
Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

Tech

Safaricom’s M-PESA Bill Manager brings digital receitps, bills and invoices to businesses & landlords

January 26, 2021
0
Tech

Stranded in Lockdown? Here Are 3 Ways You Can Make Money Via Cryptocurrencies Online

January 26, 2021
0
aimbot -8
Tech

UNDP Gifts Kenya With Robots That Will Aid In Fighting COVID-19

January 26, 2021
0
Tech

Signal Adds WhatsApp Like Features That Have Made The App More Interactive

January 26, 2021
0
Toshiba
Tech

Chrome Now Helps You Change Weak Passwords

January 23, 2021
0
Tech

Top 5 Skills That Modern Software Developers Need to Have

January 22, 2021
0
Tech

What Software Developers Need to Know About Burnout

January 22, 2021
0
Tech

Which is Better, Leasing or Purchasing Farm Equipment?

January 22, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Samsung, Safaricom partner to push Samsung Galaxy S21 pre-orders

January 26, 2021

Safaricom’s M-PESA Bill Manager brings digital receitps, bills and invoices to businesses & landlords

January 26, 2021

8 Facts People Don’t Know About Bitcoin

January 26, 2021

Stranded in Lockdown? Here Are 3 Ways You Can Make Money Via Cryptocurrencies Online

January 26, 2021

3 Tips On Avoiding Cryptocurrency Scams

January 26, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: