Additional Security In Credit CardsBy: Joan Peppin, Wednesday May 13th 2009
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Credit cards are the most common way of funding online casino accounts. Though most online players freely use their credit cards because of the convenience offered, many still harbor reservations while doing so. There is a feeling that sensitive credit card information can be hijacked and used by unscrupulous identity thieves. This feeling persists despite the best precautions possible taken by online casinos. Alternative payment methods such as e-wallets are being promoted as an alternative to credit card transactions. However the most common way of initially funding the e-wallets is through credit cards themselves. In order to alleviate fears of identity theft credit card companies keep on evolving more secure methods of carrying out online transactions.
Two of the most popular and most reputed credit card providers are Visa and MasterCard. Both have come out with a system that offers additional security to players using their credit card at online casinos. The system offered by Visa is known as Verified by Visa. The system offered by MasterCard is known as MasterCard SecuredCode.
In the MasterCard SecureCode system there is a private code known only to the online player and the bank that has issued the credit card. This private code, known as SecureCode, enhances the security offered by the credit card. Online players can choose their own SecureCode. It is not allotted by any one else and hence is more secure. The code is tagged against the player in the database of the bank. Players can register this code at the bank's website. Every time the player uses the credit card to make a deposit at the online casino and enters the MasterCard credit card number a window will open automatically in which the player will have to enter his private SecureCode. Only if the code matches the one in the bank's database will the transaction go through. The window is completely secured and it is safe to enter the SecureCode as prompted. Also the whole process takes only a few seconds so there is no delay caused in the transaction.
Existing Visa credit cards can be activated to include the additional security offered by Verified by Visa provided the issuing bank is a participant in the initiative. The activation can be done from the Visa web site. It can also be done while making a deposit at the online casino. In either case the transaction is secured. The process is identical to the one used by MasterCard. The online player enters his Visa credit card number and his password. This password is equivalent to the MasterCard SecureCode. This activation prevents the Visa card from being used online unless the password is also offered in the designated box. Only after the issuing bank has verified the password will the deposit transaction go through at the online casino.
Actually Verified by Visa goes one step beyond MasterCard SecureCode. It allows players to enter a brief personal message when they are entering their password. At the online casino when the player is asked to enter the password, the screen will automatically display the personal message. This assures the player that it is safe to enter the password. If the personal message is not there or if it is different from the one given by the player then the player should not enter the password and should inform Visa.
Both online casinos and their financial services providers are continuously upgrading security measures. In order to avail the benefit of these measures the players must participate to the fullest extent.
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