20 October 2017
visit www.response.ncr.com

FNB installs Arcot's Transfort for online authentication

23 April 2004  |  3781 views  |  0 FNB installs Arcot's Transfort for online authentication

First National Bank of Southern Africa has installed Arcot's TransFort software to deliver Visa 3-D Secure and MasterCard SecureCode authentication services to its Internet merchant customers.

Both authentication programmes require cardholders making online purchases to verify their identity with a password.

Arcot says the use of the password enables the bank to verify users with the card issuer before the transaction is completed, which reduces the risk of fraudulent transactions as well as FNB's liability for charge back payments.

Kestell Laurie, director, merchant acquiring, FNB, adds: "The fact that we attempt to authenticate every card purchase eliminates our liability for charge back payments in the event of 'I did not do it' disputes."

The software was implemented in two weeks by South African IT services firm, Symbiotix.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

South Africa's FNB delivers voting information over ATMs

South Africa's FNB delivers voting information over ATMs

29 March 2004  |  2437 views  |  0 comments
Russia's Assist deploys Arcot for Verified by Visa

Russia's Assist deploys Arcot for Verified by Visa

04 February 2004  |  3400 views  |  0 comments
First National Bank of South Africa moves to EMV with Hypercom

First National Bank of South Africa moves to EMV with Hypercom

21 August 2003  |  4431 views  |  0 comments
Garanti Bank chooses Arcot for Visa and MasterCard authentication

Garanti Bank chooses Arcot for Visa and MasterCard authentication

14 July 2003  |  4179 views  |  0 comments
Arcot and Mosaic to co-market payment and authentication package

Arcot and Mosaic to co-market payment and authentication package

19 November 2002  |  3030 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.vasco.com

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15978 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9068 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8212 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7219 views comments | 9 tweets | 17 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
6792 views comments | 19 tweets | 25 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job