3-D Secure Online Credit Card Security...
We should all now be familiar with using Chip & Pin when we use our credit cards in shops, restaurants or other outlets. Entering a four digit pin number known only to us enhances the security of our card transactions. Just knowing someone's card details is not enough for the fraudsters. They cannot use this information in most UK outlets now without also knowing your pin number.
3-D Secure is a similar system that has been introduced on the Internet. Verified by Visa and MasterCard SecureCode are the two versions currently in use. These systems invite cardholders to register when using a Visa or MasterCard to make a purchase on a website whose payment system supports 3-D Secure. Cardholders specify a user id and password. Once registered, if a card is used on a site that support 3-D Secure, an extra window pops up requesting the card holder to enter four randomly selected characters from their password.
So it can be thought of as an online version of Chip & Pin. For more information click the links below:
The importance to merchants is that if your payment system supports 3-D Secure then you will not be held accountable for fraudulent transactions using either Visa or MasterCard - even if the card used hasn't been registered yet!
However, Merchants that do not support 3-D Secure remain responsible for any loss arising from fraudulent use of cards on their site. So make sure that your online payment solution supports 3-D Secure!
We are a Trusted SecureTrading Development Partner and we can provide fully compliant payment systems which incorporate 3-D Secure.
more information about our online payment solutions...
For help with accepting credit cards securely online, please contact us.
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