Lafferty, May 27, 2003
3D Secure gains momentum
|The adoption of 3D Secure, through MasterCard's SecureCode and Verified by Visa, by financial institutions and cardholders expanded in April and May.
Visa International announced in April that Australia's financial institutions would begin rolling out Verified by Visa. ANZ, Commonwealth Bank, National Australia Bank, St George, Heritage Building Society, and 69 credit unions will progressively roll out the service with the aim of making Verified by Visa available to over 6 million cardholders by September.
HBOS Card Services became the first UK bank to offer a commercial 3D Secure solution - both MasterCard SecureCode and Verified by Visa - with the online payment security company Cyota. HBOS has more than 5 million credit cards in issue and it opened some 1 million new accounts in 2002.
HBOS Card Services will host its service at Cyota's local facility in London. Cyota's SecureSuite solution is either installed in-house at the issuer's data centre or offered as a hosted service from global facilities located in the US, UK and Japan.
Cyota's SecureSuite reached the $100 million mark in secured transaction volume in April.
Arcot Systems will supply Norway's leading independent Payment Service Provider, Paynet, with its Arcot Transfort solution which supports SecureCode and Verified by Visa. Paynet, which is owned by EDB Business Partner and SEB Kort Norway, has about 150 Internet merchant customers.
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