During the recent Black Friday sale, several online retailers in South Africa had trouble processing payments due to credit card transaction verification systems being offline.
One of these systems was Verified by Visa, which the card merchant said is a security protocol that guides its client banks and merchants in confirming that it is the cardholder performing a transaction.
“Client banks in South Africa use a personal or one-time password to provide this reassurance and security,” Visa told MyBroadband.
The way in which a bank implements Verified by Visa is at the discretion of the client bank.
“One of the available options is to host this service at Visa.” According to the credit card company, there were no reported outages on its hosted service.
“The Visa network, VisaNet, facilitates the transfer of payment traffic between our financial institution clients, consumers, and merchants,” said Visa.
“Merchants often make use of payment gateways to process this traffic independently of Visa and as a result Visa is not able to monitor or comment on the traffic loads they experience during peak periods.”
VisaNet processes an average of 150 million transactions each day, said the company.
“Based on rigorous testing, we estimate that VisaNet is capable of processing more than 56,000 transaction messages per second,” it said.