Visa has certified the ENTERSECT award winning second factor transaction authentication solution allowing issuers to authenticate online card purchases.
Credit cards continue to be the easiest and most convenient way to shop online. A passport to international purchases, cards provide a one-click payment solution, allowing funds to move around the globe. This has fuelled and facilitated the e-Commerce revolution and will in all likelihood continue to be the way we pay online for many years to come. This very simplicity has allowed fraudsters to cash in on the anonymity of the Internet. All that is required is access to a few details on the credit card, all available in plain sight, to enable fraudulent online transactions. “Card not present” fraud continues to be a problem for both consumers and banks, costing the UK ₤296 million in 2010 and with the increase in online purchases in 2011, this is likely have increased significantly.