Standard Chartered Bank recently signed a memorandum of understanding (MoU) with SSL Wireless for its payment gateway solution platform. Through the MoU, SSL Wireless in collaboration with CA Technologies, will help secure online transactions made by the bank's credit and debit cardholders with the new 2-factor authentication (2FA) feature, said a statement.
Head of Retail Clients of Standard Chartered Bank Aditya Mandloi and General Manager of SSL Wireless Ashish Chakraborty signed the MoU on behalf of their respective organisations.
The 2FA is an enhanced security feature which is applicable for all the local and international transactions made by the bank's customers. This feature enables the bank to send a unique password to the customers' mobile numbers and email addresses recorded with the bank. This password will be sent to the customers only after the credit or debit card information is provided during the transaction, without which customers will be not able to perform their online transactions.
CA Technologies serves more than 150 million cardholders with its payment technology supporting 3-D Secure protocol for ecommerce transactions. Their risk analytics with advanced models and dynamic bank-defined rules help card issuers fight fraud in real time while providing a frictionless checkout experience for genuine cardholders.
Security feature for online transactions to be enhanced
FE Team | Published: September 28, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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