MasterCard International (NYSE:MA) today announced that Travelocity, one of the world's largest online travel companies, has made MasterCard SecureCode available on its consumer website, Travelocity.com.
Customers who use MasterCard SecureCode to authenticate their MasterCard and Maestro credit and debit card purchases will now be able to use it when paying for travel packages and GoodBuy hotels on Travelocity.com.
MasterCard SecureCode is a global security solution for Internet retailers and financial institutions. It addresses three of the most pressing issues in e-commerce today: lingering cardholder concerns about the safety of online shopping; issuers' need to remotely authenticate their cardholders while shopping online; and Internet retailers' desire to ensure a payment guarantee.
Much like the familiar authentication process required for payment card use at Automated Teller Machines (ATMs), MasterCard SecureCode requires cardholders to enter their personal code in a pop-up or inline window on their PC before their online payment can be completed. With this simple step, cardholders can be confident that their account is protected, and card issuers and retailers gain greater assurance about the identity of the person completing the transaction.
"MasterCard SecureCode offers another level of security to give consumers even greater peace of mind when buying travel online," said John Mills, CFO of Travelocity. "It is also a valuable tool to help us authenticate payments being made through our site."
"We are very pleased to announce that Travelocity has joined the thousands of merchants worldwide who are embracing the security afforded by MasterCard SecureCode," said Stephen Orfei, senior vice president of MasterCard's e-Commerce Center of Excellence. "This is welcome news for the millions of consumers who make Travelocity.com their one-stop shop for their travel-related needs. MasterCard is tireless in its commitment to enhancing the security of all transactions, both online and off."
The MasterCard SecureCode program continues to generate significant worldwide momentum. As of May 2006, there were more than 3,000 financial institutions enrolled in the MasterCard SecureCode program on a global basis. In addition, more than 77,000 merchants are now participating in the program.