Card management in 3D Secure scheme
BORICA provides the opportunity for performing secure payments via the Internet through the Verified by Visa scheme for VISA cards and MasterCard SecureCode for MasterCard cards. The services provided by VISA (Verified by Visa) and MasterCard (SecureCode) give VISA or MasterCard cardholders more control when using their cards on the Internet, reduces the possibility of unauthorized use and enhances the users’ security when shopping online. The service requires the user to enter their password every time when shopping online from merchants providing this service. When the user enters their password correctly, the BORICA system confirms the authentication and the transaction completes successfully. The payment will not be performed, unless the correct password is entered.
In order to avoid user data misuse when making payments on the Internet to merchants registered in the Verified by Visa/MasterCard SecureCode program, cardholders are required to enter a personal message, set by them upon registration in the service.
When cardholders registered for the 3D Secure service dispute transactions to merchants who do not support the 3D Secure service, the dispute is resolved in favor of the cardholder, according to VISA and MasterCard’s rules.
When merchants supporting the 3D Secure service dispute transactions made by cardholders who are not registered for the 3D Secure service, the dispute is resolved in favor of the “3D” merchant, according to VISA and MasterCard’s rules.
The number of Bulgarian merchants defined in the BORICA system who support the 3D Secure service is currently over 1500 and is constantly growing.