Verified by Visa / MasterCard SecureCode
August 30, 2023
Understanding the Key Aspects of Online Transaction Authentication
As we embrace the digital age, online transactions have become the norm for buyers and sellers. However, the convenience of online shopping highlights the need for enhanced security measures. To prevent fraud and ensure safe transactions for financial institutions, using “Verified by Visa” and “MasterCard SecureCode” is very effective.
What is “Verified by Visa” and “MasterCard SecureCode”?
To bolster online transaction safety, Visa and MasterCard provide additional security measures known as “Verified by Visa” and “MasterCard SecureCode.” These secure protocols help the cardholder’s bank verify their identity, reducing the chance of fraudulent activity with credit and debit cards. Verified by Visa/Mastercard SecureCode adds protection benefits for consumers and merchants alike.
How does Authentication Work?
When you use your card, the bank that issued it starts the authentication process. This process may differ slightly depending on your bank, but it typically involves these steps:
- After entering your card details and clicking “Continue,” the system will redirect you to a page. This page will allow you to check if your card is eligible for Authentication.
- Some banks may ask for a unique code you have registered with them when you encounter a pop-up window. Alternatively, an automatic redirection might occur, with the bank authenticating you directly.
- You have successfully secured your purchase once you see the “Transaction Complete” window.
Activating “Verified by Visa” and “MasterCard SecureCode”
To activate these security services:
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- For “Verified by Visa,” register through the bank that issued your Visa card. It only takes a few minutes. To access, use your Verified by Visa password or a one-time password from your bank for Authentication.
- For “MasterCard SecureCode,” contact your issuing bank. They will guide you through the process and provide you with a one-time password via SMS.
Is it Mandatory to Use SecureCode?
SecureCode is a versatile solution that caters to the needs of both merchants and consumers. When a customer links their card to SecureCode and the merchant supports it, it becomes a mandatory requirement for the transaction. Clients without SecureCode can still use their credit card details to make transactions without signing up.
Benefits of Verified by Visa/Mastercard SecureCode
These security features offer benefits such as:
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- Enhanced Security: Protects both cardholders and merchants during transactions.
- Fraud Reduction: Reduces the risk of unauthorized credit card activity.
- Peace of Mind: Offers an extra layer of verification for online shoppers.
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In the realm of online commerce, the issue of security is paramount. Verified by Visa/Mastercard SecureCode are essential for secure online shopping, ensuring a safe and accessible digital shopping experience.
Sources for Further Information
Remember, when shopping online, your security matters as much as your convenience. Stay secure with Verified by Visa/Mastercard SecureCode!
August 30, 2023 | Merchants | Dustin Armstrong