To verify that they are the owner of the card the customer then simply has to log into their online banking account, or use phone banking, to retrieve the two amounts and enter these into the merchant's online payment portal.
This mode of operation means that the nominated card is debited immediately even if the card is being used fraudulently. However the system relies on the fact that, except for soft goods that are downloaded immediately, there is a window between payment being received and goods despatched. If the merchant does not receive the authentication within that window they cancel the order and reverse the credit card transaction.
For download purchases Merchant Protect suggests that verification be implement only for new customers or those determined to be high risk. In these cases the download would not be available until the values from the split transaction had been input.
The system also requires the purchaser to leave the merchant's site and go to online banking to retrieve the randomly generated amounts, and for that information to be readily available. According to Merchant Protect most online banking systems now display credit card transactions in near real time
A company, Indian Pacific Media, has been founded to exploit the technology, for which a patent was granted in 2011. It has since developed the product and beta tested it with Australian merchants and has now launched it as cloud based service.
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