Every online merchant's worst nightmare is financial and reputation loss incurred through the charge back of online transactions. CCAvenue™ is one of the few websites that has implemented two new security protocols - Verified By Visa & MasterCard Secure Code, which will virtually eliminate the instance of charge backs for the reasons of `Transaction Not Authorized' in Visa & MasterCard Internet transactions:

a) The cardholder cannot dispute his participation in the transaction.
b) Even if the cardholder does dispute his /her participation in the transaction (because his /her card is not enrolled in the Verified By Visa OR MasterCard Secure Code program) the merchant has zero financial liability and the cost of the transaction has to be borne by the bank or financial institution who issued the credit card.
c) However disputes, related to quality and or delivery of the merchandise could still result in a charge back if the merchant has not addressed these issues when the customer has raised queries directly or via his credit card issuing bank.

Verified By Visa
Visa has developed a new online security feature called Verified by Visa that works with existing Visa cards. With Verified by Visa, consumers can rest assured that using their Visa cards on the Web is just as safe as using it at a local merchant around the corner. Additionally, participating merchants receive added protection from fraudulent chargeback activity.

Through the simple Verified by Visa checkout process, Visa card Issuers confirm consumers' identities in real time during transactions at participating merchant sites. And unlike other services that promise online security, with Verified by Visa, merchants initiate the authentication process. Shoppers don't have to load special software or open a digital wallet. So a simple and painless shopping experience is maintained for your customers.

How the Verified By Visa process works
If you are a card holder then you get a unique password from Visa. Your Verified by Visa password helps ensure that only you can use your Visa card number to buy online.

Once your card is activated, your card number will be recognized whenever you purchase at participating online stores. You'll enter your password in the Verified by Visa window, your identity will be verified, and the transaction will be completed. In stores that are not yet participating in Verified by Visa, your Visa card will continue to work as usual.

When the consumer clicks "buy" at checkout, software installed on the merchant server recognizes registered Visa cards and the Verified by Visa screen automatically appears in the consumer's browser. The consumer simply enters his/her password and the password is verified.

Verified by Visa improves the security of payment transactions in the electronic commerce environment over open networks. It is designed to increase both cardholder and merchant confidence in Internet purchases, as well as to reduce disputes and fraudulent activity related to the use of Visa payment cards. Further benefits of Verified by Visa for e-commerce merchants are highlighted below.

Improve Internet Purchases
Enhance the security and integrity of Internet purchase transactions.
Enable Issuers to authenticate cardholders for Internet commerce.
Support card authentication (such as smart Visa cards provide) and other evolving technologies for wider Internet card usage with minimal impact on merchant processes.
Increase the confidence of Visa cardholders in making more online purchases, while reducing fraud exposure for merchants.

Reduce Operational Expense
Reduce operational expense and charge backs related to unauthorized use of Visa cards for Internet purchases.
Link authentications with authorization and settlement transactions to ensure Internet transaction data integrity.
Streamline dispute resolution processes through the use of automated tools to prevent invalid exception items.
Participating merchants receive added protection from fraudulent charge back activity.

MasterCard Secure Code benefits
70% of e-commerce charge backs are "cardholder unauthorized" due to cardholders saying "I didn't do it." SecureCode gives you a way to reduce charge back and fraud costs.
70% of consumers surveyed by MasterCard say they are concerned with security and fraud issues. SecureCode gives them more confidence.
73% say that enhanced security would influence their decision to purchase online. SecureCode encourages online shopping.
61% are concerned that their credit card number will be intercepted by "hackers." Accepting cards from other countries will be easier and less risky; SecureCode helps you move into new markets.