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American Express launches new online fraud prevention solution

BBR Staff Writer Published 08 November 2010

American Express has launched SafeKey, an online fraud prevention solution, licensing Visa's 3-D Secure Protocol.

According to the American Express, SafeKey is a fraud prevention solution specifically designed to help protect American Express merchants and cardmembers from fraudulent online transactions.

The tool helps reduce unauthorized online use before it happens by confirming the cardmember's identity with an additional password. Cardmembers enroll in the authentication program through their card issuing bank to receive an added layer of protection.

3-D Secure is the technology that powers authentication services provided by payment brands globally. American Express will adopt 3-D Secure for internet payment authentication, joining Visa and other international payment brands in endorsing a technology standard for secure internet payment.

American Express will enable SafeKey in Singapore and the UK on 8 November 2010 and begin working with merchants and card issuers in these markets to roll out the technology.