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Unit 9 Card Security P1

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Card Security Code
The card security code is different for different kinds of cards even the name of the card security code differs, the merchants should maintain a list of the possible patterns of the card security code and verify the identity of the consumer by checking if the security code pattern matches with the original pattern.
Verified by VISA and MasterCard secure code
VISA and Master card developed a software which helps in identifying the cards issued by them, here the user needs to enter a password created by him at the time of registering for the service. This helps in understanding if the card is legit as it was registered by the card issuers.
These are few security solutions which need to be taken up by the merchants or by the …show more content…
This verification step should be done at the point of sale and if there is any difference in the information. The issuer should report the incident …show more content…
This tool delivers a number of benefits, especially when used along with the EMV chip cards. 3D-Secure service provides more control to the issuers and merchants over the chargebacks and card fraud by authenticating the card-holder’s identity and assessing transaction risk when creating very small friction during the process of customer purchase to provide a secure checkout. Even though the 3D-Secure is great tool but it can be still enhanced which can improve the experience of the card-holder and make it highly secure. Risk based authentication, Control of 3D-Secure implementation, Rules base authentication and Dynamic authentication can be few of the enhancements which can be done. In Risk based authentication it is better to allow the issuers to estimate the risk of every transaction depending on the data through the access control server and transaction characteristics can be analyzed. The control of the 3D-Secure implementation can be shifted to provide the benefits to the merchant. So he can decide the transactions for which the 3D-Secure service can be utilized. In Rules based authentication it can provide benefit to the merchants by giving them the flexibility for implementing a customized strategy of authentication for transactions and the issuers should still needs to authenticate. In Dynamic authentication it

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