Now it seems that the Irish banks are equally slow in their plans for their own, similar, system, known as 3D Secure.
Like Terrified-by-Visa and InsecureCode, the 3D Secure system requires users to tap in extra security data whilst making online transactions.
As with the UK enhanced online card security systems, 3D Secure moves the burden of liability from the merchant in the event of a fraudulent transaction to the bank or financial institution that issued the credit card.
Now Colm Lyon, chairman of the Irish Internet Association and managing director of Realex Payments, has told reporters that, although Irish merchants are keen to adopt the 3D Secure system, delays by the banks are stalling its implementation.
According to Lyon, although 3D Secure has been implemented widely across Europe (where? - Ed), it has not been rolled out anywhere near as quickly in Ireland.
"This technology is easy, it's simple to deploy and the banks need to do it and make sure they do it in an easy and open way," he said, adding that, even where it has been rolled out, it has not been working as effectively as possible.
"There are some issues because some of the issuing banks haven't implemented their side of it. We've had merchants turn it on and there have been issues with it and the banks are not working as fast as we'd like them to implement the changes that are necessary," he said...