Is Your Card 3D Secure Yet?

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Let’s be honest; not many people know what “3D Secure” means unless they are in the banking or e-payment business (and even then, there are exceptions).

First, 3D has nothing to do with 3D printing or glasses. 3D here actually stands for the “three domains” involved in card transactions: the vendor and payment system (Visa or MasterCard), the acquiring bank, and the issuing bank. All three parties need to validate the transaction before it is processed.

Basically, it’s an additional layer of protection adopted by both MasterCard (as MasterCard SecureCode) and Visa (as Verified by Visa).

How do you benefit from 3D secure?

Whenever your card is being used for an online purchase with a 3D Secure participating vendor, your issuing bank will ask you to confirm your identity by entering your 3D Secure password.

Some cardholders may think that adding one more step before the transaction is completed is an unnecessary hassle. But consider the advantages: you can now detect and prevent fraud before it happens.

And 3D Secure is still evolving. Because passwords can be stolen just like card information, Saradar Bank and most banks in Lebanon now send their customers a different One-Time Password (OTP) for every transaction by SMS.

In other words, it is no longer enough for cybercriminals to steal your card information, they need to steal your phone as well.

So why hesitate? Make your life simpler and shop online with greater ease of mind thanks to 3D Secure.

We’ve done our part, the rest is up to you

3D Secure does not mean you are immune to card fraud.

I know you heard it before, but you should hear it again and again:

-Never share your card information

Ever. And don’t write them down anywhere they can be found either.

-Be careful when shopping online

Make sure you buy only from trusted vendors and check that the website uses encryption: the URL should start with “https” (the “s” stands for “secure”) and not just “http.”

-Keep track of your card activity

Keep all your card receipts and carefully compare them to your monthly statement. Immediately notify your bank in case of any inconsistency.

-When in doubt, ask first

If you have any reason to suspect card fraud, make a quick online search about a vendor, or better yet, ask your bank.

Happy (and safe) shopping!

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