A new MasterCard authentication method for online sales
Posted by: Curtis Stevens on November 30th, 2009

MasterCard recently announced a new authentication method for online transactions.  Visa / MC have had online authentication programs out for several years now.  Visa’s is called Verified by Visa, MasterCard is called MasterCard SecureCode.  These two programs work great when the two pieces of the puzzle fit together.  One, the cardholder must be using a bank that participates in the program and many do not.  The second piece is the merchant must be using a credit card processing platform and/or shopping cart that is compatible and capable of collecting this information. Many do not as well. The new authentication process is to use cell phones and text messages. When they try to make a purchase online, it will send them a text message to their phone to enter into the computer when prompted for it to verify the transaction. The service is first being offered in Brazil and maybe eventually make its way to the US. I however believe the use will be limited like the current verification programs the two brands already have in place now. I think everyone should use and support them that way cardholders do not have to deal with stolen credit cards as often. It doesn’t cost them anything, but having to deal with a stolen credit card can be a big pain.

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