3D Security at Thompsons Ltd

 

Overview.

 

Verified by Visa protects your card against unauthorised use and gives you peace of mind when shopping online.

Once you’ve signed up to Verified by Visa, you’ll be protected whenever you make an online payment with your Visa card at any one of more than 300,000 web sites across Europe.

Verified by Visa involves two quick steps to authenticate your purchase.

• First you’ll see the personal message that you provided when you signed up for Verified by Visa and that only you and your bank know about. This lets you know that the security screen you’re seeing is genuine
• Then you’ll be asked to enter your Verified by Visa password.

What is it?

 

The 3-D Secure™ protocol was developed by Visa to improve the security of Internet payments. The protocol is offered with the service name Verified by Visa. MasterCard has also adapted a similar protocol called MasterCard SecureCode. Both are designed to allow authentication of cardholders by their Issuers at participating merchants. The objective is to benefit all participants by providing Issuers the ability to fully authenticate cardholders through the use of a password during Internet purchases, reducing the likelihood of fraudulent usage of Visa and MasterCard credit cards and improving overall transaction performance.

 

What does 3D secure stand for?

 

3D Secure stands for 3 Domain Secure. The three parties involved in the 3D Secure process are the following:

1) The Vendor
2) The Acquiring Bank
3) Visa and MasterCard

Please note that 3D secure does not totally eliminate fraud or chargebacks, therefore merchants should continue to use their anti-fraud systems and security measures

 

Benefits for Members

The primary benefit of 3-D Secure for Members is the reduction in disputed transactions and the resultant exception handling expense and losses. It is expected that nearly 80% of all e-commerce chargebacks and fraud, and a substantial proportion of customer complaints, could be eliminated with the use of Authenticated Payment. This will have a positive impact on Member profitability.

A less tangible, but nevertheless real, benefit is the assurance Members can provide to their cardholders who are considering e-commerce transactions. Studies indicate that as many as a third of cardholders are afraid to shop online due to security concerns. Authenticated Payment may convince prospective ecommerce shoppers that it is safe to use their card online. Another benefit of 3-D Secure is the potential to leverage the infrastructure to support other financial and non-financial applications.

Benefits for Cardholder

• Increased consumer confidence when purchasing on the Internet
• No special application software is needed at the cardholder access device (unless cardholder uses chip card)
• Easy to use
• Control over card use for online purchases