Online Shopping Should Reach US$171 Billion by 2023 in Brazil, Visa Says

RIO DE JANEIRO, BRAZIL – With e-commerce gaining more and more relevance, payment companies will need to adjust to enhance security protocols.

According to Maria Isabel Noronha, Visa’s director, some solutions are already in place, such as the “tokenization” system, where the card number used in an online transaction is replaced by a random numbering, the 3D-S 2.0 anti-fraud system, which is an authentication platform where parties (bank, credential and flag) check the transaction in seconds in order to confirm if it is genuine and confirm it.

Oscar Pettezzoni, Visa’s CEO, stressed the importance of updating these systems because consumer behavior itself is changing. He states, for instance that transactions at dawn would arouse suspicions before, but with the popularity of e-commerce, they began to occur genuinely more frequently.

Asked about fraud using PIX, a new payment and instant transfers system from the Central Bank, the executive claims that it is safe. However, the fact is that some people have been trying to scam within the PIX environment.

“In the transaction itself, we have not seen fraud attacks. What we have seen are these scams to try to steal consumers’ registration data,” says the executive.

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