LAGOS: ENTERPRISE Bank Ltd has introduced an enhanced security code for its MasterCard customers in an effort to guard against the prevalence of electronic card payment fraud.
The bank said in a statement that the Secure Code provided a second level authentication for card holders when performing on-line transactions. It said the solution was supported by MasterCard to offer card holders additional comfort and security of their card details when it is used on-line.
Emphasising on the need for all Enterprise Bank customers to secure their MasterCards by carrying out the simple exercise, the statement explained that when making an internet purchase, the cardholder’s identity is authenticated at the point of payment before the merchant submits an authorisation request.
The bank said customers could carry out the exercise from the comfort of their homes or offices by visiting Enterprise Bank’s website to register all the MasterCard variants, including the Debit, Prepaid (both in dollar and naira), as well as the credit cards, among others.
The bank said the process of securing these cards had been simplified with the following options. The first option enables the customer to register the card at the bank’s website by clicking on the MasterCard Secure Code logo on the homepage and answering a few questions.
The second option allows the customer to go through a MasterCard Secure Code participating merchant, which will then redirect him to the bank’s page to register the card before payment is made.
According to the bank, another benefit of the service, apart from security, is that it restores the card holder’s confidence while shopping on-line and enables the card holders to identify phishing sites while protecting them from fake web merchants.
SOURCE: CAJ NEWS AGENCY