Visa sets direction for future of payments security in Australia with launch of new roadmap


Visa, the global payments technology company, has today publically launched its new roadmap setting the direction for Australian payments security from 2017 to 2020, and beyond. This comes at a time of rapid change: millions of devices are reshaping how payments are made and accepted, and Australia is at the forefront of this change.

In launching the Visa Future of Security Roadmap (‘the Roadmap’), Visa’s Group Country Manager for Australia, New Zealand and South Pacific, Stephen Karpin, said securing the commerce ecosystem is a shared responsibility:  “Everyone has a role to play in protecting Australian consumers and businesses from breaches of any kind. Technology has enabled truly seamless commerce, but it has also brought unique risks. To stay ahead of fraud, we need to work together and give security the same attention and investment as we give to new products.”

While global fraud rates remain near historic lows, fraud is continuing to shift online: card-not-present fraud, where transactions are conducted over the phone or online, now represents 78% of total card fraud in Australia1. This is the context of significant e-commerce growth – the number of Visa transactions conducted via e-commerce has grown 35% over the two years ending September 20172 – however it does show there is work to be done.

New research commissioned by Visa has found that Australians could be doing more to protect their personal and financial information in today’s digital world. Only one in four (25%) use a unique password for each password-protected account and one in three (32%) use a unique PIN for each debit or credit account. At the same time, Australians are ready to embrace innovations in security. The main driver is convenience, with 67% believing biometrics makes payment authentication easier than passwords3.

Visa’s Roadmap focuses on a number of initiatives which will enable security to evolve at the same pace as the technologies changing the way we pay. These include:

  1. Tokenisation: As account details are stored in more places, such as at online merchants, Visa is calling on financial institutions and merchants to devalue or ‘tokenise’ this data – a process whereby payments information is replaced with unique ‘tokens’ that are useless if stolen.
  2. Introduction of 3-D Secure version 2.0 (3DS): A tool for merchants that allows seamless authentication of consumers when shopping online, and enhanced fraud detection for all parties in an e-commerce transaction.  
  3. New standards for biometrics: Smartphones, now ubiquitous, allow users to verify their identity via biometrics on their device, for example via fingerprint or facial recognition. Visa’s standards, as well as Visa’s certification of third party devices and software, will ensure the suitability and security of future biometric solutions as a means of payments authentication.
  4. Global standards for Software-Based PIN Entry (PIN on Mobile): Mobile point of sale (mPOS) technology is enabling micro-merchants to accept digital payments using low-cost infrastructure. With some solutions, mPOS requires PIN entry into smartphones or tablets. After publishing standards and establishing a pilot to monitor the security of this technology, Visa is now sharing the learnings from this ongoing pilot with the Payments Card Industry Security Standards Council (PCI SSC) to assist in its development of global standards for Software-Based PIN Entry.
  5. EMV chip acceptance: With contactless payments now accounting for 92% of Visa face-to-face transactions in Australia4, the Roadmap seeks to ensure 100% EMV chip acceptance, meaning every consumer and merchant can benefit from the security layers provided by EMV chip technology.

Sam Gianniotis, Visa’s Chief Risk Officer for Australia, New Zealand & South Pacific, said: “Decades of hard work by Australia’s financial institutions, merchants and the international payments networks, including Visa, has led to ingrained trust in digital payments, trust that is well-deserved. Our collective responsibility is to continue protecting and delivering on this trust, as we enable new and exciting ways to pay.”

Demonstrating this trust, 64% of Australians say they would trust their bank to hold information about their biometric forms of authentication, beyond just their financial details5.

Joe Cunningham, Visa Asia Pacific Head of Risk, said, “Visa has a principle of responsible innovation. We need to balance security with customer experience, ensuring no innovation compromises the integrity of the ecosystem. The Visa Future of Security Roadmap sets the groundwork for achieving this and will continue to be updated as the commerce landscape evolves.”

Visa works with industry stakeholders including financial institutions, merchants, policy makers, law enforcement and accountholders to secure payments. The Visa Future of Security Roadmap is the product of comprehensive consultations and collaboration, making it an authoritative document on Australian payments security. Visa is delivering roadmaps around the world to ensure the security of the global commerce ecosystem, as well as working with Australian industry bodies to align security initiatives.


1 AusPayNet, 2016
2 VisaNet data, two years ending September 2017
3 Biometrics in Payments: Survey of 1000 Australians conducted in October 2017 by AYTM
4 VisaNet (September, 2017)
5 Biometrics in Payments: Survey of 1000 Australians conducted in October 2017 by AYTM


Media contact
Samantha Vogts
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About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of increased digital payments for everyone, everywhere.  As the world moves from analogue to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit and @VisaNews.