Insecurity is one of the 5 basic problems that people face when carrying out on-line transactions such as: purchases, sales, or payment of invoices and fees. In several cases an on-line purchase by an unsecured merchant, has resulted in other unauthorized purchases and the depletion of money in the bank account, thus leading to an odyssey series of contestations until the issues are identified. Unfortunately, the losing party is the card user.
In the context of this worldwide growing phenomenon, the most appropriate solution emerged from the introduction of new security mechanisms that certify the buyer, the seller and the money transfer method. This new mechanism is the 3D SECURE security system. Fundamentally, 3D Secure standard represents an authentication process that aims at preventing fraud and abuse, providing extra security of bank cardholders, and furthermore ease the burden of cardholders who sell or purchase on-line services and products. This new feature offers enhanced security in the payment process by card where clients are alerted by a push message to verify their authenticity and after that by additional SMS/email authentication process clients receive a one-time password (OTP) on mobile and email account. Under these circumstances no one, except the card user, can authorize a purchase.
This innovation has already been introduced to Albania for FREE by Credins Bank dedicated to the bank’s clients.
Things to keep in mind:
Credins Bank card user should provide accurate data to the bank regarding the phone number and e-mail address.
3D Security Service “Verified by VISA” by VISA and “SecureCode” by Mastercard provided by Credins Bank provides enhanced security during on-line purchases, preventing the unauthorised use of your card.
Your card has been registered preliminary by the Bank in the 3D security service and it is not necessary that you fill in the form or personally go to a bank’s branch. How does the system that protects your money work?
When you use your card on the Internet in participating retailers, after you fill the card data and upon choosing the payment method, another screen will appear that of Credins Bank secured page. Meanwhile a SMS will arrive on your mobile phone, with 3D Secure code, which you will enter on the required box. Verify the phone number you have registered with the bank. The one-time authorisation code will be sent to this number.
Recognising the 3D Secure merchantIn order to understand whether the merchant you are buying from uses the 3D security service, you should check the merchant web page for the logos Verified by VISA or SecureCode. In case the logos do exist, that means that the merchant you are buying from does provide the 3D security service. Merchants who do provide for this service can be also identified during the purchase. Once you have entered the card data on the merchant site, you will be presented with another page to register first and then to enter the one-time code.
On-line purchaseWhen shopping with 3D merchant, once you have completed selecting goods or services at the On-line merchant, you should choose the payment method and complete your card data. Once selecting “Pay”, another page will appear. In the meantime, you will receive a 3D security code on your phone, which you should insert in the required box. 3 steps to be followed: 1 Choose the method of payment and enter the card data.
2 Choose “Pay” and another screen will show.
3 3D Secure code will arrive on your mobile and you will enter it correctly in the required field.
Transaction is confirmed successfully. If you receive the SMS on your mobile, please check if transaction details, especially the amount, card number and merchant name correspond to the details in the SMS. If yes, enter the 3D security code which you received on you mobile and choose “Continue”.