Electra Secure From ElectraCard Services To Protect e-Commerce Deals

Electra Card Services (ECS) has launched Electra Secure, a 3D Secure compliant offering, to safeguard member card holders and issuers from credit card frauds on the Internet.

3D Secure stands for Three Domain Secure and is a technical standard developed by Visa and MasterCard to further secure CNP (card not present) transactions over the Internet. MasterCard’s system is known as ‘MasterCard SecureCode’ and Visa calls theirs ‘Verified by Visa’. The technology is designed to reduce the risk of fraudulent card use by authenticating the cardholder at the actual time of the transaction.

Electra Secure is a specialised offering from ECS to specifically cater to e-commerce (card not present) transactions comprising Electra MPI (Merchant Plug in) for acquirers of Visa and MasterCard products and Electra ACS (Access Control Server) for Visa and MasterCard issuers to protect their cardholders from fraud in e-commerce transactions.

More from Biztech

Future Group - Reliance Retail Deal approved by CCI RBI ban on cryptocurrencies takes effect; prohibition could force investors to tap the black market

Both products support the current versions of ‘Verified by Visa’ and ‘MasterCard SecureCode’.

Electra ACS includes an enrollment server to enable an issuer to enroll cardholders. Electra MPI is a centralised MPI, which can be integrated with any Internet Payment Gateway that supports 3D Secure. It supports all kinds of debit and credit cards. Minimal integration is required for merchant websites.

Ramesh Mengawade, CEO, ElectraCard Services, said, “Electra ACS is our effort to enrich the online shopping experience by promoting secure e-commerce transactions. Electra ACS not only allows cardholders/ merchants to transact online in a secured environment but also helps banks minimise huge financial losses caused by malicious intent.”