Answer:
Answer by Andy Zavoina: I am not intimately familiar with this but from the sounds of it, it will either be under the more stringent MasterCard rules or Reg. E. The question of it being an access device is answered in the definitions under 205.2. Did the consumer request and receive the card, or sign for or use it? Was it received by the customer as a replacement or renewal card, substituting for another? If any of these are "yes", it is an accepted access device.
Answer:
Answer by John Burnett: SecureCode is an "add-on" security procedure offered by some participating MasterCard banks issuing credit or debit cards. It's designed for use on the Web. It basically involves a step in which the issuing bank intervenes in the Web authorization process for the purchase and asks for the cardholder's SecureCode. That's similar to a PIN used in a standard debit POS transaction where the card is "present."
If the card used is a debit card, the transaction will be a Regulation E transaction. It will be subject to Regulation E protections, with any more protective MasterCard requirements layered on over Regulation E.
First published on BankersOnline.com 11/29/04
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