Quote:
Originally posted by BRISK
I have a Visa, but I don't have any PIN code for it, how will I be able to buy anything?
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I'm not sure I understand the question. But here's a couple guess answers:
You have a visa but you haven't gone to Visa's website to get yourself a PIN with verified by visa (or Mastercard's site for a SecureCard). Now you go to pay for something online from a merchant whose processor supports verified by visa. When the transaction is attempted, the processor has a connection to visa which essentially tells them that your card isn't registered therefore it's treated as a normal transaction -- that is, let it through if the card is good.
For the merchant, it's too bad you didn't register because you can still charge back the transaction. "My husband would -NEVER- have bought THAT!"
In other words, for the time being, not having a PIN as a customer doesn't hurt you at all. (What issuing bank is going to want to stop you from spending?)
Course Visa's pushing this thing hard, so who knows what'll happen once everybody supports it. Maybe banks will only give merchant accounts to merchants that are willing to support verified by visa.
This is all just my interpretation. Maybe I'm way off base.