YEREVAN, February 22. /ARKA/. VTB Bank (Armenia) said today it has launched a modern and safe online shopping service designed for holders of its Visa cards.

"Beginning from February 22, 2017, online purchases made by holders of VTB Bank (Armenia) Visa cards will be secured with high degree protection thanks to 3D Secure technology, which allows to authorize card holder at the time of payment,’ the Russian-owned bank said in a press release, adding that cardholders will have to enter one-time password they will receive from the bank via SMS at the time of purchase.

According to the press release, the use of 3D Secure technology provides cardholders with a number of advantages such as security (online purchases are confirmed by one-time passwords, which are available only to cardholders (sent via SMS to the mobile number of card holders) and are valid only for a single purchase, and also simplicity and convenience (to make a payment the customer enters a six-digit number on the online payment screen received on their mobile phone).

The bank explained that the 3D Secure technology is effective only for online stores that support this particular service, otherwise the payment will be executed without entering one-time password.

"Nevertheless, even in this case the holders of VTB Bank (Armenia) cards will be provided with an additional safety measure, reducing the likelihood of fraud to zero", the press release said.

VTB Bank (Armenia) was entirely acquired by Russian VTB Group in 2004. It runs 67 branches across Armenia. -0-