MASTERCARD SECURECODE- HOW TO USE IT AND KEEP YOU SAFE FROM THE TRANSACTION CARD FRAUD?
What is MasterCard SecureCode?
MasterCard SecureCode is a 6-digit code unique personal time provided by MasterCard's MasterCard account customers to provide an additional layer of security while making payment for online shopping via credit / debit card. Every time when you make a purchase online, a pop-up box will appear on your window asking SecureCode, after you register and create a SecureCode. Purchase only occurs when the code is entered correctly. Publishers then confirms whether genuine cardholder who is conducting the transaction or not in a fraction of a second.
These additional features introduced by MasterCard is very beneficial for both merchants and customers. Let us now discuss how to get your 3D MasterCard SecureCode if you do not have it yet.
How to get your MasterCard SecureCode?
For the customer / card holder:
ยท Go to the online registration form available on the website MasterCard or on the web site of your issuing bank.
ยท Authenticate yourself with your credit / debit card number, ATM pin and card expiry details.
ยท Creating a private message. This will help you to make sure when you shop using authentic MasterCard SecureCode. This message will appear every time you make a purchase online.
ยท Choose a strong password to use as your MasterCard SecureCode.
If you want to make the shopping experience of your customers more secure, being a merchant SecureCode.
ยท You can contact directly representatives transaction processor or Mastercard if in case you do not support the transaction processor MasterCard SecureCode.
ยท Fill in the required application and complete other formalities.
ยท Perform simple test with MasterCard.
ยท To let customers know that you use the MasterCard SecureCode to make their experience more secure, add MasterCard SecureCode program identifier to your website.
How to use MasterCard SecureCode and keep your card safe from fraudulent transactions?
With the evolving digital world, people are more interested in online shopping and they use a computer chip card to make a payment which resulted in a large number of fraudulent transactions. According to an online report, every year 30% - 40% of fraud cases increased. Fraud affects both merchants and customers and to manage this risk MasterCard has introduced an efficient feature called MasterCard SecureCode also known as 3D SecureCode.
ยท Double Security: MasterCard SecureCode transaction credit / debit card looks like a two-factor authentication process.
Private Message: To ensure that traders are authentic and you are not in any trap, personal messages play an important role. While getting yourself registered for SecureCode, you will be asked to fill in a private message. This message appears when you make a payment by credit / debit card is registered. If the message does not appear then you do not have to go any further because it could be a trap.
SecureCode: After checking Personal Message You must enter a six-digit passcode. Payment is done successfully only if SecureCode entered correctly.
Both of these factors are used to provide a strong extra layer of protection. It is that it is advisable to have a strong and unique password.
ยท Privacy: The feature that makes MasterCard SecureCode secure is that the code is not to be shared with people such as the card number, CVV, card expiration date, name or billing address of the card holder. This makes it difficult for fraudsters to commit payment fraud even if he had somehow managed to steal card information. Cardholder must keep SecureCode safely for themselves only, not shared with anyone.
Minimizing the bill: For merchants, SecureCode can be used as a tool to prevent the bill a major headache for all online merchants. the reason the bill as "cardholder not recognized" or "cardholder unauthorized" can be solved easily because of the higher levels of verification provided by SecureCode. MasterCard can help traders in proving that businesses are not guilty for fraudulent transactions. It becomes really difficult for fraudsters and smart customer to reject the file because even in the extreme case of credit / debit cards can be stolen, but you can not lose your personal SecureCode.
ยท Reduction in the cost of interchange: It gives you the opportunity to reduce interchange fees by qualifying for the lower costs associated SecureCode-category interchange. Because there are two categories for the interchange of 3D-secure.
where the only business is set up to use MasterCard SecureCode but not the cardholder.
where both merchants and cardholders use SecureCode
UCAF category Mastercard interchange work by the way in which you can take steps to qualify for lower cost categories.
ยท It's free: All this security comes for free. All u have to do is sign your card and if you are a trader then also free of charge. So why not use it. One must take all possible measures to secure one's hard-earned money. And it is valid
ยท Safe for international transactions: It is considered quite risky to make payments abroad because they are more vulnerable to fraud and chargebacks. MasterCard SecureCode makes it a little easier to make international transactions smoothly as accepted worldwide. Also traders can begin taking payments from customers using Maestro cards are also owned by MasterCard. This will help you to expand your business.
ยท Paying Big safe: SecureCode is required every time you make a payment by credit / debit card even if the amount is less than $ 1. So it is a safer option to make large payments and also for the merchant to receive substantial payments.
ยท Easy and quick to get started: And finally very easy to make. There is no special software, a long and complicated application required. You can register any existing MasterCard. As soon as you receive a confirmation notice from the bank that you are, you can start shopping online safely.