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| Barclays secures e-commerce transactions | | An easy and simple route to the world of Internet banking |
| Announcement / Corporate Aug 10, 2009, 19:42 IST |
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Barclays Global Retail and Commercial Bank (GRCB) India, has implemented a secured platform for all debit and credit card online (‘card not present’) transactions through the Verified By Visa (VBV) service offering. For the first time Barclays debit cardholders can now not only be able to transact online using their debit cards but also secure such transactions through VBV. For credit cardholders, VBV will provide additional security while using their credit cards for online transactions.
Following the mandate issued by The Reserve Bank of India for second factor verification for all debit and credit card e-commerce transactions, Barclays cardholders will now have an additional security against online frauds. VBV technology limits the chances of fraudulent usage of cards by adding a personalised password that allows only the cardholder to authenticate transactions.
Ram Gopal, Interim Managing Director and Chief Operating Officer, India, Barclays Global Retail and Commercial Bank (GRCB) said, “We at Barclays welcome The Reserve Bank of India’s directive to introduce a second factor verification for all debit and credit card e-commerce transactions. With this, our customers now have access to a safe and convenient online experience. We continuously evolve and innovate to give our customers the very best in banking with the VBV technology forming the backbone to this experience.”
The VBV service has now been activated for all Barclays credit and debit card customers. This service is free of cost and automatically routes all online transactions through the VBV service.
Barclays GRCB business has built a strong franchise in India over the past two and a half years with over 900,000 clients and customers. Barclays continues to be committed to India through its six Barclays entities including Global Retail and Commercial Banking, Barclays Capital, Barclays Wealth and specialist technology and BPO centres of excellence. India is one of the leading markets for Barclays Plc.
About Barclays Global Retail and Commercial Banking (GRCB):
Barclays Global Retail and Commercial Banking (GRCB) encompasses all of Barclays retail and commercial banking businesses around the world. Operating in 28 countries, Barclays GRCB comprises UK Retail Banking, Barclays Commercial Bank, Barclaycard, GRCB Western Europe, GRCB Emerging Markets and GRCB Absa (Barclays Bank PLC owns 58.8% of Absa Group Limited). Barclays GRCB serves 49 million customers and clients around the globe through a network of more than 4,800 distribution points.
To find out more about the individual Barclays GRCB businesses, please visit our website ww.barclays.com
About Barclays:
Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the USA, Africa and Asia.
With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 140,000 people.
Barclays moves, lends, invests and protects money for over 49 million customers and clients worldwide.
For further information about Barclays, please visit our website www.barclays.com
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