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MANDATORY Verified by VISA and UCAF SPA

22 September 2008 1 comment

Retired member

Well, I'm glad APACS pointed out that the rise in 'take-up' is because of making it mandatory for cardholders.

Not all merchants use these solutions, so the security coverage for cardholders is quite spotty.

It's also understandable that consumers complain because both these solutions make it quite easy for fraudsters to phish cardholders out of their verified by visa and ucaf/spa credentials.

If banks truly cared about offering the right solutions to the problem, they wouldn't have to make solutions mandatory. Banks can start rebuilding confidence with their customers by offering the right solutions that cardholders themselves would readily take-up because they see that the system will solve the problem and because they feel confident and secure about using the system.

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Comments: (3)

Matt White North America editor at Finextra

22 September 2008

Actually, Apacs didn't point out that some banks are making the schemes mandatory - it managed to forget that detail in the press release.

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A Finextra member

22 September 2008

I was quite disturbed when I encountered this while shopping online - partly because I wasn't aware I'd opted in to any such service but mainly because the site was asking me for personal information - memorable name I think it was - which is part of the login stuff I use to get into my Smile bank account.

This looked to me more like an additional potential security hole than a solution to a problem. I don't want that sort of information being bandied about any more than necessary.

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A Finextra member

22 September 2008

Well, if Finextra added that last bit about Barclays and Natwest making these solutions mandatory for customers, thus explaining APAC's press release of "the rise in cardholder take-up of these solutions", then I'm appreciative of that objective reporting.

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