Bank Nizwa upgrades digital transactions with 3D secure solution
Bank Nizwa has improved its digital transactions with the enhanced ‘3D Secure’ feature to all of its MasterCard credit cards to add an additional layer of security for online shoppers.
Designed to support the MasterCard SecureCode system, 3D Secure uses One-Time-Passwords (OTP) to combat fraud and maintain the safety of all Bank Nizwa’s credit card users.
The enhanced solution requires further authentication during transactions ensuring higher levels of security similar to the ones offered in a physical payment environment, protecting merchants, users and financial institutions alike.
Commenting on the benefits of the new system, Arif Al Zaabi, Acting Head of Retail Banking at Bank Nizwa, said, “The internet has become the global destination of choice for shoppers, reflecting greater accessibility, flexibility and convenience. This has resulted in the need for adopting superior security measures to combat credit card fraud and misuse. With the implementation of the 3D Secure solution, customers will experience greater confidence and protection, while enjoying around the clock seamless online transactions.”
Bank Nizwa’s drive to support its customers has resulted in the launch of multiple products, services and systems to meet their changing requirements. Its longlist of Islamic banking solutions include dedicated SME Banking services, Recurring Deposits Product, and the Bank Nizwa Wealth Management Service.