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PNC Bank Offers Online Shopping Protection Through Verified by Visa™; Service Available in Time for Holiday Shopping Season
PRNewswire-FirstCall
PITTSBURGH

PNC Bank, a member of The PNC Financial Services Group, Inc. (NYSE: PNC), now offers Verified by Visa™, a free service that gives customers the ability to add passwords to their PNC Bank Visa Check Cards for additional purchasing protection online. The passwords help prevent unauthorized transactions at participating online stores.

"With the holiday shopping season in full swing, we are very pleased to offer Verified by Visa to give customers an extra layer of security and more control over how they shop online," said Jody Leidigh, vice president, Debit Cards, at PNC. "We believe this authentication practice will help protect PNC Bank customers from fraud and the unauthorized use of their check cards at the growing number of online retailers participating in the Verified program."

According to a survey released earlier this year by the business and technology research company GartnerG2, more than $700 million in online sales were lost to fraud in 2001. "The survey also indicated that online fraud losses for 2001 were 19 times as high, dollar for dollar, as fraud losses resulting from off-line sales," said GartnerG2 vice president and research director Avivah Litan.

Customers can activate their existing PNC Bank Visa Check Cards in Verified by Visa once by creating their secret passwords at www.pncbank.com/verified. As an additional measure against fraud, card users also create their own personal messages that are later displayed back to them for verification when they shop online.

At checkout, Visa cardholders are prompted by PNC Bank to enter their password and verify their personal message to authorize purchases whenever their card is used at participating online stores. The authentication process usually takes less than 20 seconds.

More than 40 major online retailers support Verified by Visa and an additional 52 will soon offer it to consumers.

PNC Bank Visa Check Cards can be used to make purchases at more than 20 million locations worldwide that accept Visa and with no transaction fees at more than 3,400 PNC Bank ATMs.

PNC's Regional Community Banking business provides credit, deposit, branch-based brokerage and electronic banking products and services to retail customers as well as credit, deposit, treasury management and capital markets products and services to small businesses.

The PNC Financial Services Group, Inc., headquartered in Pittsburgh, is one of the nation's largest diversified financial services organizations, providing regional community banking, corporate banking, real estate finance, asset-based lending, wealth management, asset management and global fund services.

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SOURCE: PNC Bank

CONTACT: Maureen Brown of PNC Bank, +1-412-768-2752 or
maureen.brown@pncbank.com

Web site: http://www.pnc.com/
http://www.pncbank.com/
http://www.pncbank.com/verified

Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/701257.html