Malta's Bank of Valletta has licensed Arcot Systems' TransFort product to provide both Verified by Visa and MasterCard's SecureCode online payment authentication services to its cardholders.
The system initiates and manages the authentication process for both the MasterCard SecureCode and the Verified by Visa programmes, and confirms to the participating e-merchant that the online buyer is the actual cardholder.
Elis Nemes, president of Arcot International, says Bank of Valletta worked closely with both Visa and Arcot in the development of the service.