How Visa is helping to protect small businesses in digital-first commerce

As a member of the Digital Boost Alliance, Visa is committed to equipping Kiwi businesses with useful tools for payments security and business growth in an increasingly digital-first commerce environment. The accelerated shift to digital payments has driven changes in behaviour and preference, and as these digital habits have taken hold, fraudsters have also adapted their methods of attack. 

A key resource is Visa’s New Zealand Security Roadmap: 2022-2023, covering the steps Visa is taking across six key areas: 

1. Driving adoption of secure technologies
2. Securing digital first payment experiences
3. Ensuring ecosystem resilience
4. Preventing enumeration attacks
5. Enhancing the cybersecurity posture of ecosystem participants
6. Preventing New Zealand consumers and businesses from becoming victims of scams.
    

“Through these initiatives, Visa collaborates with our bank partners, industry stakeholders, merchants and consumers to keep payments secure,” says Anthony Watson, Visa Country Manager, New Zealand and South Pacific. We recommend the following starting points for New Zealand’s small businesses to play their part in the shared responsibility it takes to secure the commerce ecosystem.

• Get educated on the risks associated with accepting digital payments
• Talk to your provider to understand your options to prevent fraud, enumeration, and cyberattacks. Tokenisation and EMV® 3DS are important starting points
• Implement risk-based solutions to manage fraud
• Ensure incident response plans are in place and tested
• Review Visa’s What To Do If Compromised Guide for further details

“Visa’s view is that economies that include everyone everywhere uplift everyone everywhere, and that access is foundational to the future of money movement. This is why we are combining education with action, and we will continue to innovate in this space.”