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Important: New regulations for online payments

Posts: 29 Pages: 1/2

Matt
In: Veldhoven
Posts: 8067
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Dear all, It's with great pleasure that I can announce that we are now taking part in the Mastercard SecureCode and Verified by Visa payer authentication programs... www.MasterCardSecureCode.com www.visaeurope.com/personal/onlineshopping/verifiedbyvi...a/main.jsp What? From now on, when you make a payment on Biker Match (or other participating websites), you may be forwarded to your own bank after submitting your card details. You will then be prompted (by your own bank) to setup a password if you have not already done so. At this point you also have the option to "Activate Later" if you don't have time, or you can enter a few details (such as your date of birth) to activate the service with your bank. Please note that this is MANDATORY for all Maestro and Switch card payments from January 20th 2010 onwards!! It is only OPTIONAL for other cards. However, your own bank may require you to create a password and join this new high-security program even for Visa and Mastercard payments (Halifax Credit Card holders, for example, are only allowed to delay the activation once before being required to join the program) Why has this come about?? Online fraud has become a serious problem for banks, who loose millions, even billions, every year. It's also a problem for sellers, who regularly sell an item or service to someone, only to find that the credit card used was stolen and the payment bounces. Our regular russian spammer on Biker Match, Tatayana, always uses stolen card details. We only find out when the card issuing bank reverses the payment (not only reversing the payment, but charging us a £10 for the privilege!) What will be solved? For the banks, there will be a massive drop in fraudulent claims. Banks may start rejecting claims from their customers in future if the card holder hasn't taken the time to register for this service. For the consumer/card-holder: you will be reassured, knowing that even if your card details are stolen, nobody will be able to use them online without all your correct details (postal address etc) AND your secure password. So if your children at home try to use your card online, they will be stopped from doing so unless they know your password. For the sellers, i.e. BikerMatch, we will no longer have to pay huge fines in Charge-Back fees when someone claims that their card has been stolen. The chargeback fee will now be paid by either the card issuer (bank) or the card holder (you). Members of BikerMatch will also no longer be able to pay for a full account, only to file a chargeback when they're not satisfied (Or YOU will pay the fine now, not BikerMatch). When? I've almost finished writing the scripts. The service should be completed and activated tomorrow. Maestro/Switch card holders: You will be REQUIRED (by your bank, not us) to use this new high-security feature. Mastercard/Visa card holders: You may start using the feature whenever you like, it's in your best interest to activate the security the next time you upgrade. American Express card holders: This feature is not available for you, the step will be skipped during the upgrade process. All other cards: Bank specific rules apply. If you are prompted to join the program, we recommend you do so. If you are not prompted, then the service is either down or not available to you. Any questions? Post a reply here for everyone to benefit from. Thanks in advance for your understanding, and continued support of bikermatch. ~Matt

What will be solved?
 
For the banks, there will be a massive drop in fraudulent claims.  Banks may start rejecting claims from their customers in future if the card holder hasn't taken the time to register for this service.
 
For the consumer/card-holder: you will be reassured, knowing that even if your card details are stolen, nobody will be able to use them online without all your correct details (postal address etc) AND your secure password.  So if your children at home try to use your card online, they will be stopped from doing so unless they know your password.
 
For the sellers, i.e. BikerMatch, we will no longer have to pay huge fines in Charge-Back fees when someone claims that their card has been stolen.  The chargeback fee will now be paid by either the card issuer (bank) or the card holder (you).  Members of BikerMatch will also no longer be able to pay for a full account, only to file a chargeback when they're not satisfied (Or YOU will pay the fine now, not BikerMatch).
 
When? 
 
I've almost finished writing the scripts.  The service should be completed and activated tomorrow.
 
Maestro/Switch card holders: You will be REQUIRED (by your bank, not us) to use this new high-security feature.
Mastercard/Visa card holders: You may start using the feature whenever you like, it's in your best interest to activate the security the next time you upgrade.
American Express card holders: This feature is not available for you, the step will be skipped during the upgrade process.
All other cards: Bank specific rules apply.  If you are prompted to join the program, we recommend you do so. 
 
If you are not prompted, then the service is either down or not available to you.
 
Any questions?  Post a reply here for everyone to benefit from.
 
Thanks in advance for your understanding, and continued support of bikermatch.
 
~Matt