As of February 28, 2012, the Citadele Bank will link its VISA and VISA Electron payment cards to the 3D Secure system, thus offering additional security to card users when they shop on the Internet.
3D Secure system was introduced in order for making online payments by payment cards to be safer than ever before. The system carries out two important functions. Firstly, it prohibits making unsanctioned payments on the Internet by a payment card, which belongs to someone else. This is because shoppers are required to enter additional identification data. Secondly, it enables identifying traders who are registered in 3D Secure Internet purchases system. Thus traders have larger responsibilities toward the client.
Thousands of online stores across the world have joined 3D Secure system and their number continues to increase. “Verified by Visa” logotype, located on the website, indicates that an online store has joined 3D Secure system and that it supports secure payments by VISA and VISA Electron.
— How is 3D Secure system going to change online payment procedures?
“Holders of VISA and VISA Electron cards who use the Citadele online banking, when making payments at online stores registered with 3D Secure, will be asked to enter not just their name, card number, expiration date and security code (CVV2) , but also their Citadele online banking user name and authorisation code. Actually this is an additional password, which is provided especially for making online payments and it serves somewhat similarly to a PIN code. Such additional authorization prevents possibilities of fraud at online stores and significantly increases the level of security and protection of payment cards”, explains Citadele’s Board member Guntis Beļavskis.
“In comparison to other banks, we have provided our clients with an additional safety net – Citadele clients will not have to enter their online banking password when making a payment, thus protecting them even more against the ability of malicious people to gain unauthorised access to our clients’ online banking,” comments G. Beļavskis.
The bank would like to remind its clients that secure purchases require use of the Citadele online banking connection. Clients who do not use Citadele online banking are asked to visit any Citadele branch to arrange for one.
The bank offers the 3D Secure system at no cost to the client.
Once the 3D Secure system is in place, clients with VISA and VISA Electron cards will also be able to purchase goods and services from Internet vendors which have not registered with the 3D Secure system. In such cases, not additional ID data will be requested, but it will also show that the shopping is not as safe as it is in relation to shops, which use the security system.
Citadele linked its MasterCard and Maestro cards to the 3D Secure system on November 1 of this year. American Express cards are to be linked to the system soon, as well.