E-Commerce Beginners Guide: Verified by Visa and MasterCard SecureCode

Verified by Visa is a security mechanism introduced by Visa in response to online credit card fraud (card not present transactions). SecureCode introduced by MasterCard is an analog of Verified by Visa. Whenever the credit card is enrolled in Verified by Visa program, the person who is using the credit card is redirected to the issuing bank's verification web-page. Verified by Visa utilizes cardholder's personal information (code) kept by the bank. Another more secure option is utilization of a one-time password. Verified by Visa program is a liability shift as tangible data is verified by the bank and therefore it is bank's responsibility to keep it secure.

Verified by Visa and MasterCard SecureCode are protecting the merchants from fraudulent transactions, yet providing the credit cards users with additional facilities for protection from the personal identity theft.