Management Challenges

Visa is an association of 21,000 member banks that have issued over 1 billion cards worldwide. Over $2 trillion in volume passes through Visa. As part of its new online anti-fraud solution (Verified by Visa), Visa required a Web-enabled identity verification function to facilitate the registration of Visa cardholders. The vendor selected to support this new service must have access to national consumer databases and an evaluation engine to verify consumer identities online. Weinstein Consulting was engaged to select this vendor.

Solutions Delivered

To select the best vendor, Weinstein:

  • Created an RFP and submitted it to likely candidates.
  • Interviewed and evaluated candidates and their applications based on variables critical to successful implementations, including: core service functionality, ease of implementation, design flexibility, service quality reputation, existing relationships with key member banks, their ability to provide level one support, and proposed initial terms and conditions.
  • Scored candidates and presented recommendations to Visa executives.
Results Achieved

Weinstein’s recommended vendor was selected by Visa for their new Verified by Visa service in the U.S.

  Service Description: Evaluating Vendor Solutions  
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