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News

Lloyds TSB selects Cyotas Verified by Visa and MasterCard SecureCode

Wednesday 19 May 2004 15:25 CET | News

Lloyds TSB, the 3rd largest credit card issuer and largest debit card issuer in the UK, has following a successful six-month Verified by Visa pilot, selected Cyota to add MasterCard SecureCode to the service and roll it out in a phased basis to Lloyds TSBs 15 million credit, debit and chargecard holders. The service is managed from Cyotas local facility in London. MasterCard SecureCode and Verified by Visa are designed to provide Internet shoppers with a virtual receipt to sign at the point of purchase, thus reducing online fraud. The initiatives - MasterCard SecureCode and Verified by Visa - facilitate cardholder authentication for online transactions, which helps to reduce online fraud, and at the same time increase cardholder confidence. The initiatives have been adopted by nearly all of the top global issuers.

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