Visa wants you to always be protected, and so you can have peace of mind when you shop online without any fear of being defrauded. When you shop online you will be able to enter your card numbers, required expiry date and CVV2, once this is done, another layer of protection known as “Verified by Visa” will require another password. This password-protected authentication system is merely to confirm the identification of the cardholder when purchasing items online.
This password is only known to the cardholder – thus when you make your purchases in an eCommerce website, such as Takealot.com and Amazon, then your bank will be able to verify your identity and approves or rejects a transaction request.
You can receive in one of the two ways: The password requested by the “Verified by Visa” authentication system, can be the only you create with your bank or the bank will send a code to your phone through an SMS when you make online payments.
You have to remember your passwords, and/or have your phone handy when making online payments for verification on your side.
How does it work?
To get verified by Visa, you do one of the following:
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- Visit your financial institution and register for one, or make an online payment and you will be prompted to register in a few simple steps.
- Once you have activated the feature, you will always be protected from all online stores when making online payments.
- Your card will always be recognized as protected by Verified by Visa to all online participating merchants.
- When making online payments you will be asked to verify your identity with your predetermined password or a one-time pin (OTP).
- When the code is entered, follow the steps to complete the transaction
- Your financial institution will verify your details and complete the transaction upon successful validation and all this can take less than 5 minutes, despite the lengthy explanation.
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