Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has obtained the Verified by Visa certification in a bid to mitigate card-not-present fraud.
VietinBank currently uses Compass Plus’ TranzWare e-Commerce for authenticity checks during online transactions.
VietinBank card transactions obtained
The solution is part of the Verified by Visa, Mastercard SecureCode and American Express SafeKey programmes. It requires cardholders to verify their identity to their bank at online purchase.
Verified by Visa certification provides additional security for VietinBank customers who use their debit and credit cards.
The bank intends to further work with Compass Plus to obtain Mastercard SecureCode and JCB J/Secure certifications. This will in turn offer multiple online security programmes for its cardholders.
Earlier this month, Compass Plus also collaborated with National Payment Cards System (NSPK) to help United Settlement System (USS) achieve EMV 3D Secure 2.1.0 certification for UnionPay cards.
This certification will protect from fraudulent transactions and enable secure e-commerce operations to UnionPay cardholders.
In addition, the electronic payments software provider completed the migration of Unibank personalisation centre from several third-party solutions to an in-house card personalisation centre.
The in-house product is based on TranzWare products from Compass Plus.
The migration will allow Unibank to offer centralised card issuance. When a new card is activated it will also offer an option to deliver PIN codes to customers via SMS.