Sometimes headlines don't tell the whole story.

There are some things too important to compromise on, and at Visa ensuring transactions are secure, seamless and reliable is non-negotiable. And the stakes have never been higher. Cybercrime is at record highs as fraudsters continue to devise new and innovative ways to steal hard-earned money from merchants and consumers.

Visa makes massive investments to stay ahead of criminals. In the past five years, we’ve spent $10 billion on security innovations that have helped prevent more than $30 billion in fraud over the past 12 months alone. 

But we need to do more. Securing commerce requires continuous innovation and refinement to meet the needs and expectations of consumers and retailers who rely on the Visa network every day. For example, earlier this year we announced small changes to how we price and deliver some of our fraud prevention services to encourage all to use proven technologies to help protect merchants and consumers from growing threats. These security tools include safeguards that consumers have come to expect – like entering the code on the back of your card when transacting online or entering your zip code when you are at the gas pump. 

If fully implemented, these fraud prevention and security products would lead to an estimated $500 million in online fraud reduction over the next year and more than $30 billion in increased sales by improving authorization rates of online transactions for merchants. The fact is, when we take fraud out of the payments system, everyone benefits.

Now let’s set the record straight on recent misleading press coverage. There is growing demand for using and accepting Visa cards given the benefits and protections. In fact, since 2012, we have seen a 180% increase in Visa payment volume, a reflection that more consumers prefer to pay with Visa, resulting in increased sales for retailers large and small. Despite strong growth in the use of Visa cards, our overall interchange fees on Visa transactions have been flat for the past decade. Moreover, over the past three years, Visa has introduced programs to lower interchange for the vast majority of small businesses in the United States. For example, last year Visa lowered interchange 10% for 90% of US businesses to help with their recovery and growth. 

Efforts by special interest groups to challenge these facts in the press are simply inaccurate and disappointing. Visa will not be deterred from upholding the promise of our brand – to be the best way to pay and be paid, for everyone everywhere.

Every Visa cardholder can have confidence knowing we are deeply committed to preventing fraud and protecting their wallets and personal data.  That benefits everyone who participates in the Visa network, including retailers. Visa has and will continue to work relentlessly to balance economics and reduce fraud on our network, helping to reduce the overall cost of digital payments and ensuring safe and easy payments for all who choose Visa.