US authentication and digital signing services provider Arcot Systems has signed an agreement with Indian credit card issuer SBI Cards to provide the latter with access to the Arcot TransFort 3-D Secure authentication service.
As a result of the initiative, SBI Cards is to offer an anti-fraud measure for its cardholders who choose to carry out online payments with their cards. Arcot's service is to prevent the unauthorised use of credit and debit cards in online transactions.
Arcot's TransFort is compliant with the 3-D Secure Interoperability protocol developed by the Visa Compliance Testing Facility. Via the software, credit card issuers offer an enrolment and authentication service to their cardholders and merchants which are compliant with the Visa, MasterCard, and JCB security standards. Arcot TransFort also allows merchants to authenticate the identity of any cardholder who has enrolled in a 3-D Secure compliant program. TransFort currently supports over 10,000 card-issuing banks worldwide and over 20,000 internet-enabled merchants.
More than 12,000 issuing banks, 200,000 online merchants and 30 million active cardholders across the world use Arcot 3-D Secure services.
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