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Switch to Maestro / SecureCode
Sometime ago, the UK Debit Card Switch took on the Maestro Brand and as part of the new card scheme rules, Switch is no longer to be displayed after 30th June 2007. Aswell as the new branding, there are also new rules; which means that all merchants wanting to accept the local Maestro card online must now accept the International Maestro card; therefore must support SecureCode.
What does this mean to you?
In summary, this means that any online merchant that wishes to continue taking the Maestro card must support Mastercard's SecureCode Verification before 30th June 07. Failure to do so may result in financial penalty by the Acquiring Bank. Benefits to the merchant for supporting this PIN/Passcode verification includes a liability shift of chargebacks from cardholders claiming "it wasn't me".
At this stage, the June deadline is for Maestro transactions only, however in a year's time Mastercard will make all Mastercard Credit & Debit card transactions mandatory to be processed with 3D Secure.
Note: Visa have not yet stated any deadline for their version of online verification - Verified by Visa (VbV), however those merchants who are implementing SecureCode tend to implement VbV at the same time to benefit from the liability shift in chargebacks and potentially reduction in merchant service rate.
Useful Links
>> Mastercard Cardholder Services
>> Payer Authentication FAQ's
>> CyberSource Payer Authentication
>> PCI Security Standards Council
