What is a Chip Authentication Program - CAP

The Chip Authentication Program (CAP) is a special technological development that was developed for utilizing EMV banking smartcards by the MasterCard developers. Through CAP, users are able to authenticate payment transactions via telephone banking or online banking.

Features of the Chip Authentication Program

Due to the high number of fraudulent websites and emails sent to banking customers, the financial industry is taking measures to ensure that their clients’ are secure from being victims of financial crime. Introducing CAP to banking customers is an initiative that banks have taken in order to reduce the risk that online and telephone banking imposes on customers. Most banks now offer their clients’ a handheld device, known as a CAP reader, which needs to be inserted with customer’s EMV smartcard. After this, customers are prompted to enter a special code as well as their 4-digit PIN code.

Individuals will only be able to access their account and proceed with transactions once they have been authorized through CAP. This enhanced security feature enables only authorized individuals to be able to access their online banking accounts. Banks and other financial institutions issue their clients with CAP devices as well as their CAP code to ensure that their customers are provided with the highest level of security possible. Through using CAP, individuals are able to rule out a number of fraudulent attacks through unauthorized emails because their devices will not recognize their website links.

The process of obtaining the correct software and systems to offer online and offline payment solutions to your clients often tends to be complex therefore it is advised to seek the assistance of a professional consultancy firm. Through the advice and guidance of expert consultants, individuals and companies can ensure that they complete the procedure of setting up in a professional and timely manner.