MasterCard SecureCode® Toni De Avila

MasterCard SecureCode® Article Finding March 2010 Kuwait Finance House (KFH) 1 st Islamic bank to incorporate the MasterCard SecureCode to their business solutions

SecureCode®: Why is Important? Online Shopping: security Business: ERP solution Goal: Integrated computer-based application system fighting online fraud. Merchants: remove liability Customers: peace of mind

SecureCode®: What is it? A private code 1-6 character code at least 1 number and 1 letter Cardholder registers code online Code allows authentication at checkout

SecureCode®: How does it work? Customer must have a code registered Customer automatically prompted to input their SecureCode at Checkout Customer’s FI notified of transaction FI verifies SecureCode

SecureCode®: How does it work? Once Bank verifies Code Bank endorses sale Merchant approves transaction Transaction is approved Only participating Online Merchants Incorrect SecureCode: Merchant blocks code and transaction declined.

SecureCode®:Where can you register? 2 ways: –MasterCard SecureCode portal –Merchant`s website

SecureCode®: How to Register Cardholder must Authenticate: 1. Input card number 2.Verify security questions (ex.: DOB, Postal Code, CVC number etc.). 3.Pass: create a 6-10 code.

SecureCode®: Registration Step 1: Card No. > Verify Identity > Create SecureCode…

SecureCode®:Registration …Registration Complete

SecureCode®:Registration Step 2 and 3:

SecureCode®:Registration What if you don’t have a SecureCode at point of purchase?

SecureCode®: Authentication Failure Lockout: Information does not match what their FI`s MasterCard center has on file Incorrect Code: Merchant Lockout Cardholder: –Call MasterCard call centre –Reset SecureCode lockout –Update information on the bank’s files.

SecureCode®: Who benefits MasterCard International Merchants Banks Customers*

SecureCode®: Article KFH manager’s believe SecureCode: –Allows secure and convenient shopping experience at participating on-line retailers –private code it allows consumer’s peace of mind. –Have a world-class internet payment services to facilitate customers’ payment needs.

SecureCode®: Speculation Just another scheme? Customers will not benefit: –Liability change from Merchant to Bank –Bank indirectly charges losses in fees and interest Bank endorsed code Merchant avoids Chargeback

SecureCode®: Limitation Lockouts –Customer call FI to reset account Participating online Merchants only Works with most Browsers –prevents pop-up windows

SecureCode®: A Good ERP Yes! Consumer Confidence Increased Less Chargeback (overall) Melanie Johnson, chairman of the UK Cards Association says: –Card-not-Present dropped by 12 per cent. –Tools like SecureCode driving down online card fraud losses

SecureCode®: Thank You Questions?

Time’s Up! About your speaker: –Name: blah blah blah blah blah –Company: blah blah blah blah blah –Tel: blah blah blah blah blah blah blah – blah blah blah blah blah blah blah –Social Media: blah blah blah blah blah –Quick bio: blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah