3D is a security protocol developed by the card schemes Visa and MasterCard with the primary objective of preventing unauthorized use of credit cards. 3D secure works by adding an extra authentication layer during the checkout process to verify the identity of the cardholder.
To enroll in the OTP program, all PNB credit cardholders will be required to update their profiles and register their mobile numbers. Once enrolled, cardholders will now be able to receive a One-Time Password.
With the solution in place, PNB cardholders will be prompted to enter an OTP which they will receive via SMS before completing the transaction. As the name implies, the password changes per transaction and expires in a few minutes after a request is made. Furthermore, only the cardholder’s registered mobile number can receive the OTP. This ensures that all transactions can solely be made by the genuine card owner.
Deploying the OTP solution was made possible through the services of AsiaPay, a payment service provider in the Asia Pacific region.
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