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The number of cardholders who have signed up to MasterCard SecureCode, Verified by Visa climbs 600% |
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APACS, the UK payments association, reports that in the last two years the number of credit and debit cardholders who have signed up to MasterCard SecureCode, Verified by Visa online payment systems has jumped by 600 percent, reaching 25 million.
In August 2007, the number of cards registered with one of the two schemes reached 10 million from 3.6 million reported in August 2006. More than 1.5 million cardholders register with one of the schemes every month, accounting for a growth of 650 percent as compared to 200,000 in 2006. Verified by Visa and MasterCard SecureCode systems are based on the 3D Secure protocol, a technical standard developed by Visa and MasterCard which is being used as an added layer of security for online credit and debit card transactions. Cardholders who use these services select a private password which can be used when making online purchases. |
