If a person makes a purchase in an online store and wants to pay by card, there is a risk that the bank will block his payment by card. These are new rules requiring strong verification of the identity of the buyer, which are to strengthen the security of online purchases.
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However, many cardholders have not prepared for this. This follows from an analysis of the most common reasons for non-completion of a card payment by a Mastercard card company.
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“The problems we are currently observing from the statistics are not the systematic rejection of transactions due to the unpreparedness of banks, but the unpreparedness on the part of cardholders who have not completed authentication according to the new requirements,” said Luděk Slouka from Mastercard.
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“The most common reason for not completing a transaction is the so-called Time Out, ie failure to verify the consumer and his card details within the set time limit. Overall, this reason currently accounts for two-thirds of all rejections, “he added.
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Strong user authentication
The card issuer (bank) verifies that the payment was actually entered by the client, by verifying at least two independent elements that are unique to him. It is a combination of elements from the category of possession / ownership (ie something the client has, such as a mobile phone), the category of knowledge (ie something the client knows, such as a password or PIN) and the category of inherence / biometrics (ie something what the client is, which the client confirms, for example, with a fingerprint or face recognition).
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The problem is that cardholders have not yet fully learned to use a new method of authentication, which is biometrics (ie fingerprint, facial scan, etc.) or a traditional text message supplemented by an ePIN code.
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“In both cases, we hope that over time, holders will develop a routine through repeat purchases and learn to use these verification methods. Unfortunately, ePIN can be expected to generate an increased number of rejections due to the aforementioned Time Out in the future, ”says Slouka. One has to remember another password.
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Maybe that’s why banks don’t bother much about fulfilling their obligations. Some will only launch strong identity verification, although banks and other payment service providers have been required to strongly verify card payments on the Internet from 1 January this year.
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For example, ČSOB will not start two-phase verification until the second calendar month. “Important for us is the safety of clients and a well-set process that will simplify shopping on the Internet and at the same time be even safer. Our European supplier faced a large number of implementations at the turn of the year. In order to ensure the functioning of payments on the Internet, we agreed to postpone the full launch of the Smart Key to clients during February, “explained his spokesman Patrik Madle for the money house.
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“We are working intensively on this and we want it to be as soon as possible,” said Štěpán Dlouhý, spokesman for mBank, when he will really start demanding strong verification of card payments in e-shops.
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“Most clients already use a smartphone to confirm payments. For those who are still switching to a modern payment solution in January, we have enabled a temporary solution via SMS, “said Petr Plocek, a spokesman for UniCredit Bank. Even before the end of the year, this bank was much more uncompromising. “A client who decides that he simply does not want to have a Smart application in any case can continue to shop on the e-shop. He will only have to choose a different method of payment for the transaction than a payment card via 3DS verification, “said Petr Plocek, a spokesman for the financial institution, for SZ Byznys in November. At that time, it was about 40,000 people.
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Air Bank has also decided to extend the period when payment by card can be confirmed by a simple text message. “However, we plan to end the confirmation of payments via SMS at some point,” said bank spokeswoman Jana Pokorná, adding that the deadline has not yet been finally set.
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