To strengthen security, Visa is expanding its fraud detection capabilities to include Plus ATM transactions. Visa will integrate the Visa Plus ATM network with the company's primary authorization system allowing Visa's Advanced Authorization technology to provide real time fraud intelligence on every Plus ATM transaction. Visa proudly announces that it is the only payment company to provide this level of fraud detection to its ATM transactions.
Advanced Authorization provides an in-flight rating of each transaction's potential for fraud to the financial institution that issued the card, including whether it was part of a reported data security compromise. Since this data is provided real-time and in less than 2 seconds, Advanced Authorization will help reduce fraud losses and address PIN-based fraud at ATMs.
This measure will also result in cost savings for financial institutions by eliminating the need to support separate systems for ATM and point-of-sale transactions. Through its affiliation with and acquisition of the Plus ATM network, Visa has driven significant ATM transaction volume growth while helping to reduce processing costs to Visa member financial institutions.
Additionally, other services and tools such as multi-currency processing and enhanced exception processing will also be available. Although the separate Plus processing platform will eventually be phased out, the Plus logo will continue as Visa's primary ATM brand.
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