Monday, February 2 2015 18:05

ACBA-CREDIT AGRICOLE BANK installs new safety technology for safe online payments


Arminfo. ACBA-CREDIT AGRICOLE BANK reported it has installed 3D Secure technology for implementation of safe online payments by Visa and MasterCard cards. The security system is aimed at protection of customers and boosting e-commerce.

3D Secure is designed to make online shopping transactions safer by authenticating a cardholder's identity at the time of purchase, through the likes of Verified by Visa and MasterCard SecureCode.

A transaction using Verified by Visa or SecureCode will redirect cardholders to the website of their card-issuing bank. The cardholder may then be requested by their bank to enter a password to be authenticated by using his/her phone. If the card is not enrolled, this means that either the bank that issued the card is not yet supporting 3DSecure or it means that the card holder has not yet been registered for the service.

If the card is enrolled, the cardholder will be redirected to the 3DSecure authentication web page for the issuing bank; the card holder will then identify himself. The MPI will evaluate the reply from the bank and, if successful, allow the transaction to proceed for authorization. The transaction could still fail for lack of funds or other reasons but is more likely to be approved because of the authentication.

As the leader of the National Single Payment System (SPS), Armenian Card, Ishkhan Mkhitaryan, told Arminfo correspondent, certification and exploiting of the 3-D Secure technology by Visa and MasterCard cards is one of the most important projects fulfilled by the SPS in 2014. He also added that in fact the new technology has provided a very high level of safety both to customers and merchandisers. The new system reduces much risks for the card holders to become victims of the Internet-swindlers.
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