A recent directive by the Reserve Bank of India makes it mandatory to have an additional authentication passcode verified by Visa or MSC (Mastercard Secure Code). This is in addition to the other information already on the card like name, card number, expiry date and CVV (card verification value) number.
So how do you get this new password? Credit/debit card users have to register online with their banks, giving personal and card details. They will then be given a PIN or password to be be used as an additional layer of security at the checkout point before completion of the transaction. This will be known to the card holder only. So, even if somebody notes your card number, he can''t misuse it for online shopping. Industry observers feel that although RBI directive may be a dampener for e-commerce industry initially, in a few months it would help the space to grow faster as it will deter online frauds. (30-Jul-09) Times of India thanks, mukesh jain. -- email: [email protected] mob: 919977165123 to read articles, circulars, books, titorials, and lot more related to PWD's visit my site: http://www.mukesh.myehome.in to know about my efforts of sketching the life of mumbai visit: http://www.themumbaicity.webs.com To unsubscribe send a message to [email protected] with the subject unsubscribe. To change your subscription to digest mode or make any other changes, please visit the list home page at http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in
