Google Pay will improve card ownership verification
Google Pay will soon improve card ownership verification via one-time passcode and online tokenization in an effort to fight fraud. This comes after that Google also announced which it will introduce in the coming months virtual cards for desktop users and Android.
In the company’s “What’s New in Google Pay” keynote, released at this year’s Google I / O, the Google product manager of Google Pay online, Rajiv Appana, spoke at length about some of the steps the company is taking to protect users. Basically, if the risk engine determines that it is necessary verify a payment which is sent via Google Pay, the protections will go into effect and verify that the user is who they say they are.
The first protection method outlined by Google was the tokenization on line. Online Tokenization will assess whether or not the owner of the card needs to be verified before the card is used at a merchant. THEThe second method is instead a OTP which is done with a small debit from your bank account.