New trends in authenticating payments on-line

This year we have seen the major bank card schemes (VISA, MasterCard) release new on-line card holder authentication schemes (3-D Secure for VISA, SPA for MasterCard). This paper gives a summary of these initiatives, how they supercede SET and augment SSL, what are the challenges they face and what they mean for the security practioner. A comparision between the schemes will be provided as well as an overview of how they are best implemented by Financial Institutions and e-Merchants.