This topic is fully described in the Cardholder Authentication Guide; please refer to it for further details.
Verified by Visa, MasterCard SecureCode for MasterCard and Maestro, and American Express SafeKey, are cardholder identity authentication solutions, which allow cardholders to confirm their identity by supplying a password when shopping online. Cardholder authentication therefore reduces instances of online fraud.
Fraudsters use 'phishing' techniques to obtain card details and passwords from cardholders. Ensure that you remain alert even with authentication in place.
The results of these checks are also fed into the Risk Management service, which monitors transactions and warns you of possible fraudulent transactions. See Risk Management service for details.
Additionally, you are protected from certain fraud-related chargebacks on card transactions, where the cardholder did not make the purchase. For more information, see Chargebacks - avoiding losses.
For more information about the various authentication schemes, see the following websites:
Verified by Visa (Europe) (http://www.visaeurope.com/making-payments/verified-by-visa/)
Verified by Visa (USA) (http://www.usa.visa.com/business/accepting_visa/ops_risk_management/vbv.html)
Visa Asia Pacific (http://www.visa-asia.com/ap/index.shtml) - select your country from the list box, navigate to Merchants > Products and Technology, and then select Verified by Visa.
MasterCard SecureCode (http://www.mastercard.com/securecode/securecode_main.html)
Maestro SecureCode (http://www.mastercard.com/security/securecode_main.html)
American Express SafeKey (http://network.americanexpress.com/uk/en/safekey/)
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