Bank Cautions MasterCard holders on Code to Stem e-Fraud

Enterprise Bank Limited has called on its MasterCard holders to protect their cards against Internet fraudsters by subscribing to MasterCard Secure Code, as a way of guarding against the growing number of cyber crimes, especially when people use their cards to shop online.

Enterprise Bank in a statement from Corporate Communications Department of the financial institution said that Secure Code provides a second level authentication of card holder when performing on-line transactions.

This solution is supported by MasterCard to offer card holders additional comfort and security of their card details when it is used on-line.

Emphasising on the need for all Enterprise Bank customers to secure their MasterCards by carrying out the simple exercise, the statement explained that when making an Internet purchase, the cardholder’s identity is authenticated at the point of payment before the merchant submits an authorisation request.

The bank said customers could carry out the exercise from the comfort of their homes or offices by visiting Enterprise Bank’s website to register all the MasterCard variants, including the Debit, Prepaid (both in dollar and naira), as well as the credit cards, among others.

The process of securing these cards has been simplified with the following options. The first option enables the customer to register the card at the bank’s website by clicking on the MasterCard Secure Code logo on the homepage and answering a few questions.

The second option allows the customer to go through a MasterCard Secure Code participating merchant, which will then redirect him to the bank’s page to register the card before payment is made.

Another benefit of the service, apart from security, is that it restores the card holder’s confidence while shopping on-line and enables the card holders to identify phishing sites while protecting them from fake web merchants.