Online shopping in India is growing with its own pace. The number of shopping websites has increased and so has the total number of persons who prefer shopping online.The act of buying things from websites and not shops certainly took a long time to blend in with the shopping mindset of the Indian customer. The current scenario is one, which is witnessing a change in this mindset. There have been many websites that have been launched with the objective of selling products to customers.
To make online shopping safer, the RBI has made it mandatory across all banks, from 1st August onwards, for all online transactions to have an extra level of authentication.
The ‘extra’ level, is a password that the customer will have to enter after entering their credit/debit card details while making online payments. The customer will require this ‘extra password’ for transacting on any website in India. This new technology is called VBV – Verified by Visa or MSC – MasterCard SecureCode.
The customer(s) who intend to perform an online transaction through Master Credit Card or VISA Credit Card, should enable the Verified by Visa/MasterCard 3D SecureCode feature by coordinating with their card issuing bank. Further, the cards not enabled for these feature would fail on the gateway.
How to get this ‘extra password’?
All you need to do is log on to the bank’s website, register the card for Verified by Visa (or MasterCard SecureCode) and get the password. Each bank has its own process for card registration. Kindly find the following links for registration:
HSBC Bank
State Bank of India
Axis Bank
ABN AmroDeutsche Bank
Karur Vysya BankStandard Chartered
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