The spokesman said that in cases where someone's card details were used fraudulently the cardholder was protected from liability and added that where a merchant chose not to use its Verified by Visa
system for a card-not-present transaction, they assumed the risk for fraud.
The cardholder can activate Verified by Visa
by authenticating their identity with their credit card provider," Hyun continued, "The cardholder will select their own six-digit password which becomes their virtual signature.
It replaces the existing static verified by Visa
/ MasterCard SecureCode password which previously required an activation code as well.
The promotion which is offered in association with Verified by Visa
and the online store www.
The drop reflected the growing use of systems such as Verified by Visa
and Mastercard Secure Code.
UBL has become the first bank in Pakistan to offer Verified by VISA
(VbV) service on its entire range of UBL VISA Cards.
Sign up to Verified by Visa
and MasterCard SecureCode.
After users have initiated a secure online banking session, the Zeus Trojan injects into the browser a facsimile of the familiar Verified by Visa
and MasterCard SecureCode enrollment screen.
More secure retail websites and chip and PIN technology, as well as the continuing growth in the use of MasterCard SecureCode and Verified by Visa
, did see overall fraud losses on UK cards fall however for the first time since 2006.
Sign up to the free Verified by Visa
or MasterCard Secure-Code systems.