3D Secure system taking off like wildfire
It seems that Visa and MasterCard's 3DSecure system - aka Verified by Visa and MasterCard SecureCode - is taking off as more and more UK cardholders sign up to the service.
Both card issuers claim that 25 million payment cardholders have signed up to the service now, which is about 150 per cent more than they had a year ago.
The two card organisations say that 1.5 million additional cardholders are signing up to the online security system each month.
That's the official line. What's really happening is that the various debit and credit card issuers - including Maestro/Switch - are mandating the use of 3DSecure for all cardholders.
You either sign up or simply aren't allowed to proceed with your online transaction. It's as simple as that.
My best guess is that, within 12 months or so, anyone that uses online purchasing using plastic in the UK will have had to have signed up to the service.
What a success. Or, depending on your point of view - what a load of online bullies...
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