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

[alexk]

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.

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[SlotMonster]

It is going to be a long process, as soon as many banks still do not support 3D secure.

 

[Zabier]

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.

 

[miso]

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.

 

[fun4all]

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.

 

[vinylweatherman]

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.

 

[rockycatt]

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.

 

[Googobucs]

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

 

[dunover]

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.