FNB rolls out 3D Secure to fight cyber fraud

November 23, 2020 6:16 pm2 comments
FNB Card Chief Executive Officer, Chris Labuschagne

FNB Card Chief Executive Officer, Chris Labuschagne

by AKANI CHAUKE
JOHANNESBURG – CYBERCRIME has emerged one of the barriers hindering the growth and potential of e-commerce activities in South Africa.

In this context, First National Bank (FNB) is rolling out its Online Secure authentication service to all merchants and individual customers to provide an additional layer of security for digital transactions.

Online Secure, widely known as 3D Secure, is the process of authenticating a cardholder during an e-commerce transaction.

In line with industry requirements, FNB has upgraded all merchants and card holders to Online Secure authentication to ensure enhanced user experience, security and flexibility.

Effectively FNB customers will now have to authenticate themselves when making online purchases.

Customers previously received a One Time Pin (OTP) via SMS or email when they performed an online purchase.

As of November 10, all customers now receive a push notification on their phone on their verified FNB App to authenticate the purchase.

“The enhanced security features will go a long way in protecting our customers from potential fraud, more so now that we’ve seen a big migration from our customers to digital channels,” said Chris Labuschagne, Chief Executive Officer of FNB Card.

He said the impact of COVID-19 and the lockdown restrictions had encouraged customers to consider convenient and safer ways to manage their lives.

“In line with our commitment to customer-centricity, we want to ensure that our customers can rely on our trusted platform when making purchases,” Labuschagne said.

Giuseppe Virgillito, Head of FNB Digital Channels, said Online Secure would protect cardholders against unauthorised use of their FNB cards for online purchases, while also protecting e-commerce businesses against financial losses resulting from online fraud.

– CAJ News

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