Irish firm’s new internet shopping password system to make on-line business more secure

THE country’s leading payment processing firm says customers should prepare for the imminent introduction of a new password-based layer of security for all online transactions.

Realex Payments, which has more than 1,500 clients including major airlines, Government agencies and telecom companies, says that the introduction of a new security feature by the major banks and credit card companies will eliminate the most obvious danger in accepting payments online.

In the near future a significant amount of online payments will include a password window where people must verify that they are the legitimate cardholder, according to Realex chief executive Colm Lyon.