Online CC Transaction Liability Shifted

Online CC Transaction Liability Shifted “Its a done deal.nbsp I am still fuzzy on the exact date, but now merchants who try to verify cardholder using 3D-Secure (i.e. Visa’s Verified-by-Visa, MasterCard’s SecureCode) will not be liable when the transaction is disputed, even if the credit card has not yet beennbspenrolled.nbsp Is that great or what?nbsp Most e-tailers literally paid through their nose every month because online credit card transactions were not considered “card present”.nbsp This means we’ll see less red-ink on e-tailers’ books.nbsp How this will affect online porn and casino sites boggles my mind.” [via Don Park’s Blog]

If I’m interpreting this correctly, this will mean real pressure for banks to implement identity management for cardholders, which may in turn help other ecommerce activities. Great news!

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