Secure Payment Verification

The theft of credit card information from Web sites has become so rampant that Visa and MasterCard took steps to curb this trend. This is a double sided protection, with payment verification used by the customer, and online merchants required to pass security standards.

There are two key customer payment verification bodies:

• Mastercard Securecode
• Verified By Visa

Visa CISP and MasterCard SDP merchant security programs are aimed at reducing vulnerabilities in the e-commerce chain that result in fraud or information theft. These programs require regularly scheduled security scans and security self-audits.

Mastercard Securecode

MasterCard® SecureCode™ from MasterCard is designed to help merchants and card issuers make Internet transactions more secure by incorporating a guaranteed payment for fully compliant transactions.

MasterCard SecureCode runs on the merchant website and interacts with both the customer and their card issuer.

When thecustomer is checking out, a simple pop-up box appears asking them to enter a private code that has been registered with their bank.

The bank validates that code and provides the merchant with a fully guaranteed transaction.

Verified By Visa

Used in a similar manner to Mastercard Securecode, VISA Card holders can establish a Verified by Visa password to help ensure that only card holders can use their Visa card number to buy online.

Zipzap validates this password with VISA

Electronic Payments Index

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