Asia Pacific Taking the Lead in Fraud Prevention

Savvy shoppers in Asia Pacific keep clear of payment fraud with safe payment practices and believe they have a major role to play in keeping the payment environment secure, according to the Visa Asia Pacific Payment Card Security Study.

 

The Study found that the most popular prevention measures used by respondents in the last 12 months to keep fraud at bay were using Verified by Visa (32 %), avoiding shopping at unfamiliar merchants (32 %) and using different passwords/personal identification numbers (PINs) for different purposes (31 %).

 

When asked who held the most responsibility for preventing fraud, the respondents said the consumer using the payment cards (19 %) had the greatest role to play in stopping fraud, followed by payment card companies and payment processing companies (both 17 %).

 

Truong Minh Ha, country manager, Vietnam, Cambodia and Laos, Visa, said: “Payment security is a shared responsibility and our survey findings show many consumers in Asia Pacific are taking the lead in fraud prevention.  Visa is helping consumers with payment security solutions and sharing its expertise with participants in the payment system to help keep fraud rates steady at near historic lows.”