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Verified by Visa and MasterCard secure code are going to be changed

Discussion in 'Payment Processing Issues' started by alexk, Nov 24, 2014.

    Nov 24, 2014
  1. alexk

    alexk Dormant account webby

    Occupation:
    affiliate
    Location:
    Cyprus
    After all the known issues with the system we are finally stepping into phase 2 of online card verification, lets see how this works out in our industry.

    You must register/login in order to see the link.
     
    2 people like this.
  2. Nov 24, 2014
  3. CasinoLand

    CasinoLand Twitch Streamer - Affiliate webmeister

    Occupation:
    Affiliate
    Location:
    Belarus
    It is going to be a long process, as soon as many banks still do not support 3D secure.
     
  4. Nov 24, 2014
  5. Zabier

    Zabier Experienced Member

    Occupation:
    Writer
    Location:
    Cardiff
    I was never 100% sure how reliable the authentication system was to be honest. Basically, my bank kept failing to change my house details so my bank statements were still sent to my parents' home but my registered details were with my current address. However, it would be random as to whether the authentication system would question this depending on where I used my card. It did concern me. My bank has finally changed its details relating to me but it did make me question the authentication system.

    That said, I'm not familiar with this 3D approach so not sure how much better that will be.
     
    1 person likes this.
  6. Nov 24, 2014
  7. miso

    miso Meister Member MM

    Occupation:
    accountant
    Location:
    Ireland
    Sounds quite complicated, hopefully it won't be too much hassle. I am using Verified by Visa, but there are casinos that, for some reason,
    can bypass that. Paddy Power, LeoVegas, 7Sultans to name a few.

    Higher security is never bad, but "wristband that can identify a cardholder through their unique cardiac rhythm"? Please, no.
     
  8. Nov 24, 2014
  9. fun4all

    fun4all Senior Member

    Occupation:
    .
    Location:
    .
    Interesting thanks.

    I remember passwords for verified by visa YEARS ago but my card had them phased out a long time past. Nowadays it just goes through some "verified by visa" process and authenticates/fails the transaction.
     
  10. Nov 24, 2014
  11. vinylweatherman

    vinylweatherman You type well loads CAG MM

    Occupation:
    STILL At Leisure
    Location:
    United Kingdom
    The weakness is those sites that can bypass the current system, yet still complete the transaction. The new upgrade will be just as useless if merchants can choose not to use it.

    Given the recent malware attacks on password managers, which themselves are the result of everybody doing their own thing and lumbering users with hundreds of passwords and dozens of standards to deal with, such measures are long overdue.

    I am not convinced about the cardiac band though, as heart rhythm can change as someone's heath changes, and this could be very frustrating for some who will constantly find the system lets them down with false positive detections of possible fraudulent use of their cards.
     
  12. Nov 24, 2014
  13. rockycatt

    rockycatt meistercatt CAG MM

    Occupation:
    carpenter
    Location:
    Boston
    was this added statement there at the time the op posted ?

    =Update: This story was updated after publication to correct factual errors in the original source material from The Telegraph. Specifically, the Verified by Visa and MasterCard SecureCode systems are not being killed off - they are being updated with the new 3D Secure 2.0 standard, with the aim of reducing reliance on static passwords.
     
    1 person likes this.
  14. Nov 24, 2014
  15. Googobucs

    Googobucs Meister Member

    Occupation:
    IT Manager
    Location:
    Florida, USA
    I think I like the combination of a user ID and biometrics. Hopefully VISA will provide USB finger print scanners at no cost ( hahahaha).
    Enter your ID and scan your finger print.

    Then someone has to know my ID, so simply cutting off my hand to steal my money wont be enough :eek:
     
  16. Nov 24, 2014
  17. dunover

    dunover Unofficial T&C's Editor Staff Member CAG PABnononaccred PABnonaccred PABinit mm3 webmeister

    Occupation:
    International Money Launderer
    Location:
    the bus shelter, opposite GCHQ Benhall
    The weakness with all the VBV systems is that it assumes the cardholder-not-present will be the real cardholder.
    In other words, if you have NOT used VBV yet on that particular card and somebody else has possession of it and knows your basic details, then when using it on a site that has VBV instead of pressing 'not now thanks' the person with the card can simply set up their own password/security and thereafter use it with impunity until the actual cardholder notices.
     
    3 people like this.

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