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Australia: Commonwealth Bank rolls out credit card security code system

Tuesday 7 September 2010 10:27 CET | News

Australian financial services provider Commonwealth Bank has made available a new service which is meant to boost protection for customers shopping online.

The NetCode SMS or token is a single use secure code sent to a customer’s mobile via SMS verifying online transactions purchased on websites featuring a MasterCard SecureCode or Verified by Visa logo. Alternately, customers can use NetCode token which generates a code on a personal pocket-sized security device.

The additional layer of security will be a familiar process for the bank’s 3.8 million NetBank customers who currently use NetCode SMS or token for new online funds transfers or payments. NetCode SMS is a free service available to all NetBank customers. It replaces Personalised Identification Questions to provide added security when completing certain NetBank transactions.
 


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Keywords: Commonwealth Bank, credit card security code, online shopping, online payment, NetCode SMS, MasterCard SecureCode, Verified by Visa
Categories: Payments & Commerce
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