For the online payment with the use of credit cards, Pakistani banks have launched the two step verification system for the users. The Pakistani banks are looking for such a process to launch the system, which can enable the credit card users to make online payment after inserting the one time passwords, which is sent through SMS or Email in real time to make the online transaction. The users are provided with CC number, name, expiry date and CCV code and the customers will enter the one time password to carry out the successful online transactions. The details show that the facility will be provided on Visa and MasterCard credit cards and for this purpose, the features like ‘Verified by Visa’ and ‘MasterCard Secure Code’ are being used by the Pakistani banks.
The customers will see how two-step verification will work:
- Users should shop online and go to checkout and enter credit card information
- When they press enter, a new window will appear and ask the clients to select a medium for sending you one-time password
- User will select from SMS or Email to receive the password
- User will be sent the password via selected medium
- Entering this password will process the transaction
The users will know that the two-step verification will be provided for ‘3D Secure’ enabled websites. The users can call for the bank to see that they are offering 2 step verification for online credit card payments or not. This will also calls for needs of local ecommerce websites to make it enable for online payments. There are some of the FAQs about the two-step verification for online payments:
- This service is provided to the customers free of charge
- Customers do not need to get activation of the credit card
- Default service will be activated to the customers
- Service will be provided only on “3D Secure” enabled websites
- This feature will be provided on supplementary cards as well
- Expiry duration of “One Time Password” will be ten minutes.
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