What
are Verified by VISA and MasterCard SecureCode?
Visa and MasterCard have developed authenticated payment capabilities to improve online transaction security and to help encourage the growth of e-commerce. By creating a virtual signature in the form of a password chosen by you when you sign up, Visa and MasterCard hopes to move toward guaranteed payments for merchants and provide a safer online commerce experience for Cardholders.
Verified By Visa and MasterCard SecureCode enable two parties (card holder and card issuer) to authenticate each other by exchanging digital certificates (electronic identifications) before proceeding with an online transaction, assuring the Cardholder that he is dealing with a legitimate merchant and providing the merchant with proof of participation of the real Cardholder. This gives both parties the confidence to proceed and creates a digitally signed record of the transaction that can be verified afterwards.
For more details about the two schemes please refer to the following links:
Some card issuers are being pro-active about getting their customers to enroll in Verified By Visa or MasterCard SecureCode and give you the option to sign up when we send you to their authentication Server during the payment process. Most card issuers should give you the option to sign up later and just proceed with the payment, if not you can go to your banks website and sign up.
A PERSONAL PASSWORD GIVES YOU ADDED PROTECTION Through your Verified by Visa or MasterCard SecureCode personal password your Card Issuer is able to confirm your authenticity during the checkout process at an online merchant's site. The service ensures that only you are authorized to use your card at participating Verified by VISA or MasterCard SecureCode enabled online merchants. Merchants never see your password and are not involved in the authentication process.
CHOOSING AND USING YOUR PASSWORD IS EASY Who knew shopping securely could be so simple? Once you've signed up for the Verified by Visa or MasterCard SecureCode service, confirming your authenticity is just a matter of entering your password before completing your online purchase.