Internet Payment Discover (IPD) is a charge that appears on your credit card statement, but few understand why or what this charge entails. This article will shed some light on this subject matter and help explain its presence on your statement.
Online payments involve an electronic exchange of money between buyer and seller. Buyers use debit or credit cards to transfer funds directly into sellers’ bank accounts thereby purchasing goods or services they offer. There are four entities involved in this process – consumer, merchant or business, consumer’s bank and seller’s bank.
Discover Validate+ is a risk-based authentication service that uses direct match between cardholder data and authentication services to reduce fraud and enhance customer experiences without disrupting transaction processing. Furthermore, merchants are given real-time requirements of required actions in case of high risk transactions.