WHAT IT IS
3-D Secure is an added layer of security for online credit and debit card transactions. It was developed by Visa to improve the security of Internet payments and offered to customers as the Verified by Visa service and also MasterCard SecureCode.
HOW IT WORKS
If your credit card is a 3-D Secure credit card, the issuing bank prompts the buyer's for a password that is known only to the bank/ACS provider and the buyer. Since the merchant does not know this password and is not responsible for capturing it, it can be used by the issuing bank as evidence that the purchaser is indeed their cardholder.
If you never created a password you have to create one. Keep this password personal as you will have to use it from now on. If you are not having a 3-D secure credit card you may go on as normal.
ADAVANTAGES OF 3D-SECURED PAYMENTS
The main advantage for cardholders is that there is a decreased risk of other people being able to use their payment cards fraudulently on the Internet. It decreases risk in two ways:
1. Copying card details, either by writing down the numbers on the card itself or by way of modified terminals or ATMs, does not result in the ability to purchase over the Internet because of the additional password, which is not stored on or written on the card.
2. Since the merchant does not capture the password, there is a reduced risk from security incidents at online merchants; while an incident may still result in hackers obtaining other card details, there is no way for them to get the associated password.
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