MUSCAT - Bank Muscat, the flagship financial services provider in the Sultanate, in association with Visa, has enhanced debit card security for online transactions. The initiative to introduce 'Verified by Visa' feature for debit cards comes as part of the bank's strategy to take the lead in introducing innovative products and services.
Bank Muscat was the first bank in Oman to introduce this feature for its credit cards in 2009 and is now taking the lead for debit cards as well. Incidentally, it is also amongst few banks in the region to offer this enhanced security to its debit cardholders.
The 'Verified by Visa' (VBV) feature provides enhanced security for Bank Muscat debit cards when shopping online. To avail the service, customers are required to visit the bank's website www.bankmuscat.com/cards and create their password.
'Verified by Visa' registration is mandatory by September 30, 2014 and online transactions on unregistered cards at participating merchants after this date will be declined. Participating merchants are the merchant websites that display the 'Verified by Visa' mark.
Tariq Atiq (pictured), AGM -- Cards & eBanking, said: "Bank Muscat cards are in conformity with international standards and the 'Verified by Visa' feature ensures online transactions using Bank Muscat debit cards are more secure than ever before. In line with the government's ambitious e-Government project, Bank Muscat is focused on making payments by cards both a habit and preference, thereby ensuring convenience and security for all card transactions.
The wide range of Bank Muscat cards ensure a more secure option to pay with cards worldwide. With this feature, Bank Muscat customers can now use their debit cards for a host of online shopping transactions like hotel bookings, airline bookings, bill payments etc and feel even more comfortable with the added security of Verified by Visa."
Verified by Visa provides an additional layer of security for online transactions by minimising the possibility of fraud for those transactions. During registration of Verified by Visa, customers will be requested to create a password. When engaging in online transactions at participating merchants, customers will be required to provide their password to complete the transaction.
Majeed Hujair, Country Manager at Visa in Bahrain and Oman, said: "Visa is pleased to partner with Bank Muscat to offer the bank's valued debit cardholders the advantage of Visa's secure online transaction system. 'Verified by Visa' provides online shoppers with an added layer of security through a password-protected authentication system designed to confirm the identity of the cardholder when a Visa card is used online.
© Oman Daily Observer 2014
