Pakistani banks have deployed two-step verification for online payments through credit cards, we have checked.

According to sources, banks are in process of deploying systems that will enable credit card users to make online payments only after entering a one-time passwords — to be sent via SMS or Email in real time — for making online transactions.

This essentially means that along side CC number, name, expiry date and CCV code, customers will also have to enter one time password for carrying out successful online transactions.

According to details, this facility will be made available for both Visa and MasterCard credit cards. For the purpose, “Verified by Visa” and “MasterCard Secure Code” features are being utilized by Pakistani banks.

Here’s how these two-step verification will work:

Shop online and go to checkout and enter credit card information

Upon pressing enter, a new window will appear asking you to select a medium for sending you one-time password

User will select from SMS or Email to receive the password

User will be sent the password via selected medium

Entering this password will process the transaction

It must be noted that this two-step verification will be available for “3D Secure” enabled websites only.

You can call your bank to see if they are offering 2 Step Verification for online credit card payments or not.

This also calls for a need for local ecommerce websites to enable “3D Secure” on their websites.

Some of FAQs about two-step verification for online payments:

This service is free of charge for customers

There’s no activation required on customers’ part

Service will be activated by default

Service will work only on “3D Secure” enabled websites

This feature will be available on supplementary cards as well

Expiry duration of “One Time Password” will be ten minutes.


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