Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Visa International today rolled out a global specification for Internet payments made over mobile phones. Visa says the spec is part of its efforts to realize the ability to conduct secure commerce anywhere, anytime with any type of device.
Visa International today started rolling out a global specification for Internet payments made over mobile phones. Visa says the Mobile 3-D Secure specification is based on existing payment technologies and is part of Visa`s efforts to realize the ability to conduct secure commerce anywhere, anytime with any type of device.
Developed in conjunction with 15 major industry participants, including Ericsson, Motorola and Oracle Mobile, the specification is part of Visa Authenticated Payment, an e-commerce program designed to ensure secure online payment transactions. The Mobile 3-D Secure specification extends payment authentication initiatives into mobile commerce, enabling Visa card issuers to validate the identity of their cardholders in real time. It ensures that payment data sent over open networks is not compromised and allows consumers to actively protect their Visa accounts from unauthorized use when shopping on-line over mobile devices.
"While the vast majority of Internet transactions still take place via PCs, it is essential that a secure standard be in place for transactions that originate from mobile phones or other mobile devices," said Philip Yen, executive vice president, e-Visa International. "Consumers need to feel the same sense of security when they shop online using a mobile phone as when they shop in the physical world."