Google Pay will soon improve its card verification process to avoid fraudulent activities.
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| Image Credit: pay.google.com |
Rajiv Apana, Google's head of product at Google Pay Online,
spoke at detail about some of the efforts the business is doing to secure
consumers in the company's "What's new in Google Pay" presentation,
which was published during this year's Google I/O. Basically, if the risk
engine determines that the money being transferred via Google Pay requires
verification, it will activate the protections and verify that the user is who
they claim to be.
Image Credit: exbulletin.com
Of course, it's not only about ensuring security; it's also
about making the user experience as simple as possible. Appana explains how the
risk engine will identify the most rigorous approach to verify that a person is
who they claim to be while maintaining a high level of security.
Google recognised inline markup as the initial mechanism of
protection. Before using the card at the merchant, the inline code will
determine if the cardholder requires verification. It requires the user to
validate their identification by providing a Card Verification Code (CVC) and
receiving an OTP through text or email.
Image Credit: exbulletin.com
The second approach is to create a One Time Password (OTP)
with a nominal cost deducted from your bank account. The user then connects
into his bank account to obtain the value that has been uploaded and uses that
value as the one-time password. This certifies ownership of the bank account
linked to the card used, saves the verification to your Google account, and
indicates the costs charged.
You may look at the term that outlines everything Google is
working on when it comes to Google Pay by going to the link below.
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