MasterCard Security, MasterCard Protection

By: EconomyWatch   Date: 6 October 2010

About The Author

EconomyWatch

The core Content Team our economy, industry, investing and personal finance reference articles.

EconomyWatch, Content Team

 

  • Dot Div
  •      

MasterCard security services defend all MasterCard users against potential online transaction frauds. MasterCard protection has been one of the pioneering services to make credit card transactions secure and convenient. MasterCard involves partnering financial institutions to enhance security features of its services. The company encourages compliance to established payment card precautions to secure transaction and account data.

MasterCard Security: The MasterCard SecureCode

MasterCard SecureCode is security enhancement technology that is globally adopted by MasterCard to secure online transaction gateways. It protects against unauthorized transactions by placing checks at both the customer and the merchant levels.

MasterCard Securecode application requires cardholders’ authentication from the issuing bank. Thus, an individual cardholderis secured in such a way that an unauthorized person cannot just swipe the card to make payments. Also, merchants are benefitedas they can obtain information about potentially fraudulent payments through an unauthorized card user. This service protects merchants and online retailers against cash-backs due to fraudulent payments.

How to Register for MasterCard Security Services

An individual MasterCard cardholder can contact his or her financial institution to enable the MasterCard SecureCode services. Another way is to visit the website of the card issuer to activate the SecureCode service. The online application form involvesfour steps:

  • Providing the necessary account details.


  • Creating a personal assurance message.


  • Entering a secret password, which is similar to the PIN for ATM cards.


  • Service activation.

Once the registration is done, this service will verify both the assurance message and the MasterCard user’s security codeprior to every transaction.

An online retailer or merchant can also use the MasterCard SecureCode service by registering through any MasterCard-partnered financial institution. The steps involved in an online retailer registering for MasterCard SecureCode are:

  • Contact your online transaction processor to obtain SecureCode application.


  • Install a SecureCode plug-in application on the server.


  • Test the service activation with MasterCard website.

Once the service is activated, MasterCard provides you with the official logo for the purpose of display. Prominent display of the logo assures customers of a secured transaction experience.

MasterCard Security: Reporting Transaction Fraud

MasterCard users, as well as online retailers, can become a victim of transaction fraud. Once the fraud is detected, you canimmediately call up the local financial institution or register a complaint with the MasterCard hotline services. Executives at the MasterCard customer service center will guide you through the process to be followed in case of fraud. If required, the retailer or the cardholder can inform the local security agency to file a complaint of fraud.

‘MasterCard SecureCode’ is the trade mark of MasterCard, who can be found at http://www.mastercard.com


  • Dot Div
  •      

Most Popular in Mastercard Credit Cards

Related Links
blog comments powered by Disqus