MasterCard SecureCode and Verified by Visa offer preventative measures for fraud protection, going a step further, adding an extra layer of security when entering your sensitive credit card information online. Using a registered private code, similar to a PIN, adds protection against unauthorized use of your card when you shop at participating online retailers. The service helps prevent unauthorized online use before it happens by confirming your identity with an additional password instead of trying to fix problems after your account information is stolen.
Simply take a moment to register your card with your credit card company. Then, whenever you submit an order at a participating online store, you will be prompted to enter your extra password. It’s a simple step, but one that can really make a difference if someone tries to use your account to make an online purchase with your stolen information. Once activated on your account, you must have the password that you added for online shopping, otherwise the transaction can’t be completed. These programs are designed to protect the credit cards or debit cards you already own and is available for most cards issued by your bank.
Visa Outlines Customer Benefits
- Greater protection against unauthorized use of their payment cards for online purchases
- Increased confidence and trust when shopping online at a registered merchant
- User-friendly – no special software or browsers are required
- Ability to quickly identify merchants who offer the added security with these services
Some people are reluctant to enter their credit card numbers in unfamiliar places online, but you can can be confident that your personal and payment card information entered on financial institutions website is encrypted and stored on a secure server to protect against unauthorized access. To sign up you must register at your bank or financial institution for the Verified by Visa and MasterCard’s SecureCode service, you.
When you pay with your registered Visa or MasterCard, the service launches automatically at participating online stores. After you enter your card number and submit your order, a window will appear and your card issuer will display an authentication page. Enter your information and password and submit. Once your identity is verified, your checkout process continues.
Wherever you see the Verified by Visa or SecureCode symbols, you know you can shop with an added layer of security. For a list of participating Verified by Visa online stores, refer to the Places to Shop page.
Unfortunately not all online stores accept SecureCode or Verified by Visa, but MasterCard still protects you from unauthorized purchases with Zero Liability and Visa with Visa E-Promise but these actions are handled after your account has already been compromised.
Value for Merchants:
- Reduction in chargebacks for online sales
- Cardholders have increased confidence while shopping online
- Minimal impact to your existing checkout process
- User-friendly experience for you and your customers
- Merchant Plug-In software is easily installed and can be readily integrated into existing e-commerce systems