Secure Your Online Credit Card Transactions…Register!

People…starting tomorrow – August 1st 2009, your credit card transactions will be more secure, thanks to the Reserve Bank of India’s guidelines making it mandatory for all such transactions to be accompanied by additional authentication/validation by providing information that is not visible on the cards.

Credit Card Security

All credit & debit cards of all banks have to be registered under the Verified by Visa or Master Card 3D-Secure program before 1st August, 2009 to continue using them for future online transactions. Once registered, users will need to provide the PIN/Password specified at registration time to transact at any merchant site in India.

All you need to do is log onto your bank’s website or contact them to complete the one-time registration formalities. Your password/PIN during the registration process will be needed whenever you make an online transaction thereafter. After 1st August 2009 onwards, after entering your credit card details during payment process, you will be redirected to your bank’s Visa/MasterCard authentication page where you will be prompted to enter the details. Upon successful authentication, you will be redirected back to the website you made the transaction with.This process has been in place for quite some now but was largely optional. Lazybums (like me!) used to click the ubiquitous ‘Not Now, Later’ option to get out of the way for entering yet another verification detail…as if the card number and cvv and expiry date were not enough! But if you think about it, all these details are right there on the card itself…so any unscrupulous individual who happens to lay hands on your card, will have a whale of a time doing online transactions! An additional layer of security is always welcome…especially in case of plastic money. One disadvantage I perceive is that that one can’t lend one’s card to family members for making any transactions unless you hand over the password/pin as well 😦 . In case there’s a possibility of such a situation, please ensure that you don’t have any er…umm…embarrassing keywords in your password :mrgreen:

So be sure to register at your bank’s website before 1st August and make your online transactions more secure. And please, do not write the PIN/Password on a piece of paper and put it along with your card!

More Info: RBI Guidelines | Verified By Visa FAQ | MasterCard SecureCode FAQ

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8 thoughts on “Secure Your Online Credit Card Transactions…Register!

  1. actually it was launched by Visa long time ago worldwide. But am yet to get any PIN for the mastercard that i use. And i dont seem to have any problems doing online transactions.

    • Yeah! Both VBV & MCSC were available since long…but were ‘optional’ till now!

      You won’t get any PIN…u will have to choose the pin by yourself on the website. And till now there’re no probs doing online transactions…its only from Aug 1st onwards that it will be mandatory to have additional verification….at least for Indian Merchant sites

  2. I had registered for this long long back, and now have no clue as what my user-name/password are 😦
    Will need to call the Customer Care and go through a lengthy boring process for this..

    I think I’ll just say yes to the next Credit Card call I get 😉

    • Ehhhe…..Do tell me how u got it back (in case u do call the CC)…would note it down for future reference. I too am prone to forgetting them 😛

  3. and what if we dont register in time? Can we register later?

    • The Aug 1st deadline is for the Merchants/Banks to make the additional verification as mandatory…the end users will not be affected as long as they register. (Looks like I gotta edit moi post 😳 )

      I’m thinking if we don’t register, the card will be rejected at the time of making the purchase 😐

  4. ehehe…Too late for ppl who are not using it already. I am using the IPIN on my Citibank card since over a year now…..It is actually a very good way to protect your online transactions and misuse of credit card. Citibank gives additional security by using a virtual keyboard. The IPIN cannot be entered using the keys on keyboard. Instead u have to click it on a virtual keyboard, the layout of which changes for every transaction, using the mouse.

  5. Sometimes it’s really that simple, isn’t it? I feel a little stupid for not thinking of this myself/earlier, though.

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