Verified by Visa volume up more than 300% in Q1

The volume of transactions processed by Verified by Visa, Visa’s cardholder authentication service, increased more than 300% in the first quarter from the year-earlier period, Visa said.

For merchants participating in Verified by Visa, more than $3 of every $10 of e-commerce processed by Visa comes from Verified by Visa authenticated transactions, Visa says. It adds that Verified by Visa`s share of e-commerce transactions has grown more than 40% in the past year.

The average Verified by Visa transaction during the first quarter was $173, up 4% from 2004, Visa says. The value of the average Verified by Visa transaction was more than triple the $56 average size of a Visa transaction.

More than 4 million cardholders and 56,000 merchants worldwide are enrolled in Verified by Visa, Visa says.