Verified by Visa
Opaque and Difficult to deal with - the Verified by Visa program

I have been trying to pay a supplier in India with my Visa card. The supplier is honest - I have been dealing with him since 2006. The Bank of India is now mandating that all Visa payments go via Verify by Visa (VbV). Since then, 80% of his long-standing customers cannot pay him. He is having trouble keeping afloat.

I have put in 25 calls and spoken to 37 people at Chase Bank in the US, where the two Visa cards I have are held. VbV doesn't work with my Barclay's account nor with my French accounts (probably with good reason).

Last count, my credit rating was excellent - 804. I have plenty of money. I want to pay him.

Chase approves each transaction, but VbV apparently rejects it. I am now knee-high in pending payments on my cards due to VbV. No way for me or Chase to reach them (I escalated to the a senior manager).

What I have gleaned, after speaking to many people at Chase and to merchants, is that VbV is a third party company commissioned by merchants and Visa International to shift responsibility over to banks. It is very opaque and faulty.

My banker is now telling me to use MC or Amex and to avoid using Visa and merchants who opt into VbV.

I think this is odd, and that VbV should be investigated. They are wreaking havoc on consumers and honest small businesses alike.

Company: Verified by Visa
Country: USA

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