To prevent against Credit Card online frauds, RBI has passed a mandate with effect from Saturday 01st August, 2009 that all online Credit Card based transactions will have to pass through an additional level of authentication.
Transactions made by unregistered Cards will be rejected and no such user would be allowed to perform anyonline transaction
This new technology for safe online transactions is called:
- VBV- Verified by Visa, or
- MSC – MasterCard SecureCode.
A second password will have to be entered while making online transactions. To get your second password, just log on to your Bank’s website, register your card and move forward.
A different process is required to be followed for American Express Cards called AVS – Address Verification System. Bank would make sure that provided Billing Address matches with Bank’s records.
Here is a list of Some of the Bank’s websites:
- HDFC Bank,
- ICICI Bank,
- Citibank
- HSBC Bank,
- Standard Chartered,
- State Bank of India
- Axis Bank,
- ABN Amro,
- Deutsche Bank
- Karur Vysya Bank,
- ING Vysya,
- IndusInd Bank
Be careful, get yourself secured and enjoy online transactions.
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