Today, millions of devices are reshaping how payments are made and accepted, and Australia is at the forefront of this change.
At Visa, we are guided by the principle of responsible innovation and we believe security must move at the speed of innovation. Visa’s Future of Security Roadmap sets the direction for Australian payments security from 2017 to 2020 and beyond, outlining initiatives that will enable security to evolve at the same pace as the technologies changing the way we pay. It addresses the evolving risks of the changing payments landscape and lays the groundwork to secure the commerce ecosystem for the future by focusing on four strategic pillars:
- Devalue data by removing sensitive payment data from the ecosystem and making stolen account details useless
- Protect data by implementing safeguards to protect personal data as well as account details
- Harness data by identifying potential fraud before it occurs and increase confidence in approving good transactions
- Empower everyone, including accountholders and merchants, to play an active role in securing payments
Securing the commerce ecosystem is a shared responsibility. Visa has collaborated extensively with industry stakeholders including financial institutions, policy makers, law enforcement and accountholders to secure payments and will continue to do so in future.