US credit union Navy Federal is to provide customers who sign up for its CardGuard service with access to both MasterCard SecureCode and Verified for Visa authentication schemes.
Navy Federal's CardGuard, which is the first commercial system to integrate both MasterCard and Visa authentication schemes, will be delivered by e-payments company TSYS and powered by Cyota's SecureSuite payment platform.
CardGuard will be used to authenticate Web-based transactions and cardholders will be prompted to enter a password in a pop-up window before online purchases are approved.
Tom Steele, Navy Federal's vice president of credit cards, says: "Even if a member never shops online, CardGuard provides additional protection in case your card is lost or stolen and someone tries to use it to make online purchases."
The credit union, which has 2.2 million cards in circulation, is the first US issuer to offer MasterCard SecureCode to cardholders.