Thus, the new program allows selected online merchants to ‘enroll’ customers by creating individual online Maestro authentication accounts using the MasterCard SecureCode system. These accounts are to be set up when new customers perform their first transactions on the participating e-commerce sites, which can then use the same account to process further transactions for returning customers without forcing the latter to repeat the initial authentication procedure.
The new payment system aims to ensure data integrity and security for online shoppers, accelerate payments as well as increase the number of online locations where Maestro debit cards are accepted. The new MasterCard initiative has been announced at the Global e-commerce Summit taking place in Amsterdam between 27 – 29 October.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now