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To: gringodoc who wrote (2316)	9/15/1999 11:33:00 AM
From: Tom Hua	Read Replies (1) \| Respond to of 2514

Wednesday September 15, 11:10 am Eastern Time Visa USA to create an Internet unit FOSTER CITY, Calif., Sept 15 (Reuters) - Visa USA Inc., the nation's largest credit-card association, said on Wednesday it is creating a separate Internet unit, eVisa, in an effort to position itself as the currency of choice in today's booming online marketplace. The move by Visa, which already accounts for 52 percent of all online sales volume in the United States, is also aimed at boosting the electronic commerce capabilities of its banking members. It plans to develop the infrastructure and online standards for its members to enable them to compete aggressively for consumer dollars being spent online. To attract more of the smaller merchants to its pool, it will offer incentives for selecting Visa as their payment default card for online payments. Visa USA, which has 6,000 financial institution members, will also provide an Internet payment gateway for merchants to process Visa transactions and will focus on strengthening security of online transactions. ``We're changing our structure to reflect the new reality and pace of Internet-based commerce and its growing influence on banking,' said Visa USA Chief Executive Carl Pascarella. ``We're now better positioned to help our member banks and merchants thrive in the e-economy, while transferring the security and convenience that consumers expect from the Visa brand in the physical world of the Net.' Visa expects a few Internet Silicon Valley players to join its eVisa board, which is expected to comprise two executives from Visa USA, including Pascarella and Michael Beindorff, the Visa USA executive vice president, who will head eVisa. A handful of online merchants and bank members will also be named to the advisory panel, a Visa USA spokesman said.

To: gringodoc who wrote (2316)	9/20/1999 8:42:00 AM
From: gringodoc	Read Replies (1) \| Respond to of 2514

Oops, another small player addresses web commerce security: nytimes.com The recent launch of the American Express blue card, which comes with an embedded computer chip, is an example of both efforts. Since the card's chip can access a user's personal information, it will eliminate the hassle of typing in that data in every Web purchase -- and, American Express hopes, encourage people to use its card. At the same time, the chip limits the fraud by guaranteeing the shopper's identity and offering greater protection to the buyer's information during the transaction. The key to these features is a piece of computer hardware that, until now, has been foreign to the desktop: a credit card reading device. Starting in November, blue card owners will be able to obtain such a device, which they will be able to plug into their PC's, enabling them to swipe the card at home much like a sales clerk would at a retail store. ````` In part, the success of PC-based credit card readers hinges on how secure consumers feel about credit card transactions on the Web. While such devices in fact provide users more security than typical Internet transactions, surveys indicate that consumers are less concerned about entering their credit card data online than they used to be. One recent survey by Navidec, a consulting firm, indicated that 21 percent of Internet users worry about credit card security during transactions, about half the number that expressed such concerns in 1997