PayEasy Announces 3D Secure Support

December 11, 2010 (MANILA, Philippines) -- Mozcom PayEasy (PAYEASY) announces support for secure credit card transactions using the 3D Secure standard.  As e-commerce starts to become popular in the country, concern over fraud is also on the rise.  The 3D Secure standard makes online transaction safer by prompting the cardholder for a secure password that he or she defined through his or her bank.  This password is used for authentication over-and-above the usual 3-digit card verification code at the back of the card which can easily be copied.

3D Secure stands for Three Domain Secure.  This industry internet authentication standard was developed by the major card companies. Visa calls its version Verified by Visa; MasterCard's equivalent initiative is called MasterCard SecureCode; and JCB has its J/Secure.  Collectively, these are all referred to as 3D Secure.  The 3D Secure protocol uses industry-standard Extensible Markup Language (XML) formatted messages passed over Secure Socket Layer (SSL) connections.

Cardholders who enable 3D Secure on their card will be redirected to their bank during online purchases.  The bank will prompt them for their password or passphrase.  If this password matches the one that the cardholder defined, the transaction is validated.  This means that even if someone were to steal your credit card and tries to use it with a 3D Secure merchant website, he will not be able to succeed if he does not know the 3D Secure password.

PayEasy is the most comprehensive payment option in the Philippines today.  It allows online merchants to accept from a broad range of payment including credit cards, debit cards, over-the-counter payments through Dragonpay, Globe GCash, Smart Money, Alipay, and direct bank debit from 25 countries through its partnership with foreign payment gateways.  PayEasy is also a PayPal Channel Partner.