Under the terms of the deal, Visa is expected to integrate ValidSoft’s fraud prevention services, namely VALid-POS, a card fraud detection service and VALid, an authentication platform.
VALid-POS is a telecommunication technology that confirms whether a cardholder’s mobile phone is within the proximity of the ATM or merchant terminal at which the card is being used. VALid is a voice and SMS telecommunications technology that uses two separate channels to prevent fraudulent transactions.
In March 2010, VALid-POS was granted the European Privacy Seal, certifying its compliance with the European Data Protection law.
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