Published on 02-02-2016
These days data security is a hot topic. Perform a Google search for the term "data breaches" and you will find over 9 million results! Protecting the security of our members' data is of utmost importance to us.
Last summer, Coastal took part in the national "Stop Data Breaches" campaign while preparing to roll out the latest in secure technology - new chip-enhanced debit cards and launching Apple Pay™. We spoke about all of these initiatives in Coastal President, Chuck Purvis' "Letter from the President" back in July.
Great news! There is now another method by which to securely perform your banking transactions, specifically online – Visa Checkout ...and all of Coastal's debit and credit cards already work with it.
Visa Checkout is Visa's tokenized payment system (similar to PayPal). As a Coastal member, all you have to do is register for an account with VISA Checkout and add any or all of your Coastal Visa debit or credit cards to it. Then, any time you perform a transaction with any of the more than 100,000 online merchants offering VISA Checkout, you simply use that as your payment option. Since Visa handles the payment information, your order is processed immediately.
In addition to this service providing a quicker, smoother online shopping experience for you, the truly revolutionary aspect of this program is the fraud prevention. Visa Checkout is a tokenized digital wallet, which means that your data is entered once, with Visa. Then, when you select this payment method at a participating online retailer, a unique, one-time code is provided instead of your card information. If that online vendor is then compromised, fraudsters will only get your tokenized information. Because this tokenized information is only a one-time code, no fraud can be committed.
In summary, Visa Checkout can:
Our members have asked us to offer a more secure method to perform online transactions. This is one solution provided and operated by Visa.
Visit VisaCheckout.com to learn more, and to register your Coastal Visa credit and/or debit cards today.