The technology is aimed at mitigating fraud as it moves from the point of sale to online channels. 3-D Secure upgrades online payments security by verifying cardholder identity and merchant credibility. Comparatively, EMV- (EuroPay, MasterCard and Visa) compliant cards contain an embedded microprocessor chip that verifies the cardholder and combats point-of-sale fraud.
Wells Fargo provides WellsOne Commercial Card customers with MasterCard’s and Visa’s 3-D Secure online purchasing programs, namely MasterCard SecureCode and Verified by Visa. WellsOne Commercial Card customers can register their existing, eligible commercial card and create a unique passcode. Once registered, cardholders are presented with their self-selected Verified by Visa or MasterCard SecureCode authentication greeting and enter their passcode during the online checkout process.
In related news, Wells Fargo is also issuing EMV-compliant WellsOne Commercial Cards with an embedded microprocessor chip and traditional magnetic stripe to customers. The customer is required to supply a personal identification number (PIN) at the point of sale.
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