Pakistani banks have launched a new two-step verification system for online credit card payments, as reported by ProPakistani.
According to a report, banks are launching a system through which online payment would be made after entering a one-time password sent by email or SMS.
Basically it would require a one-time password besides the basic credit card essentials provided for online transaction.
Visa and MasterCard credit card owners would be provided with this facility too. Pakistani banks are utilizing the features of ‘Verified by Visa’ and ‘MasterCard Secure Code’ for the purpose.
Working of the two-step verification system
This is how the two-step verification works:
1. When shopping online, after checking out, enter your credit card information
2. After that a new window will open asking for a medium to send you your one time password
3. You can select either SMS or Email to receive your password
4. You will be sent your password accordingly
5. After you enter this password, the transaction will proceed
It should be kept in mind that this verification system will be available for ‘3D Secure’ enabled websites only.
You can ask your local banks to confirm whether they are providing this facility for online transaction or not.
Local e-commerce websites would want to enable ‘3D Secure’ on their websites for this purpose.
Here are some details about the two-step verification system for online transaction:
A. The service is free of charge
B. No activation is required on the customer end
C. The service is default activated
D. Only ‘3D Secure’ enabled websites can use them
E. Supplementary cards can also get facilitated by this feature
F. ‘One time password’ will expire after 10 minutes
image: shutterstock
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