Fears about online fraud

I would like to share with you some issues pointed out in an article that I recently read in “CorriereEconomia”, an Italian newspaper (November 9, 2009).

In this article the journalist underlines that the fears for chance of encountering fraud in the virtual world are common among consumers. He shows different protection systems that every consumer can use whenever he/she wants to buy online.

“The use of credit cards on the Web is growing strongly” – explains Enrico Albertelli, director of marketing and ecommerce of CartaSi -. “That’s why we offer different levels of security. Each company has created strategies ad hoc. CartaSi for example, has introduced a classical system of data protection with password. It is 3DSecure – specifies Albertelli – and it is based on a program that gives the possibility of combining a code to the credit card number. The password is requested to authorize any online payment and replaces the signature that we have to put on the receipt, when we shop traditionally”.

In addition to this system, which involved more than one million customers, there are other tools such as SMS alerts and the X-pay. With the first, you have the opportunity to be alerted via text messages on your phone whenever you shop with the credit card. The second is instead a virtual POS which gives an added value in terms of security and offers the 3DSecure program and the control of CV2 (three-digit code listed on the credit card). It ensures security filters based on an analysis of the risk level of each single transaction.

Nowadays consumers can feel more protected in their online purchases thanks to the growing technology that is changing the way we use credit card.