Digital Certificates

Looking to the future

Longer term credit card companies such as Visa and MasterCard have been working on different schemes that will help reinforce consumer trust in ecommerce. For example, Barclays Bank has combined MasterCard’s SecureCode authentication system with personal secure reader, the size of a pocket calculator.

When shopping online, the Barclay’s customer shops places their credit card into the reader to obtain a unique secure authorisation code that is used to verify their online transaction. The scheme serves the dual purpose of reducing the retailer’s exposure to cardholder-not-present fraud, which grew 6% in the UK last year to £116.4m, whilst also boosting customer confidence in ecommerce transactions.

All these new initiatives are welcome if they can help increase trust in ecommerce. In the meantime, authenticated digital certificates, whilst certainly nothing new, continue to play an important part in facilitating ecommerce by helping to maintain trust online.

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