Greater security in e-commerce

Payment fraud remains a problem that all businesses need to address seriously, particularly in online shopping. The challenge for merchants is that they often have to balance between a lower risk of fraud and a lower risk of cart abandonment. The regulatory technical standards within the framework of the European Union’s revised Payment Services Directive (PSD2), are meant to increase the security of credit card payments in e-commerce throughout Europe.

PSD2: additional rules for payment transactions

This directive regulates payment processing within the EEA (European Economic Area). A supplement to the directive requires, among other things, strong customer authentication (SCA) for all eCommerce transactions. So, customers making purchases by credit card must do more than provide information such as their credit card’s number, expiry date, and verification code—they must also undertake additional authentication. To make SCA adoption easier, a new version of 3D Secure was published, 3DSV2. One of the features of 3D Secure 2 is authentication with the help of biometrics, thus ensuring more secure transactions in e-commerce.

 

You can find an overview of the most recent publications from the main regulators here:

European Banking Authority
BaFin
FCA
Banca d'Italia
Banque de France
Banco de España

Prepare for 3D Secure 2

With the previous standard, 3D Secure, the customer experience was significantly affected for the sake of security. That’s why the major card players -Mastercard, Visa, American Express, UPI, Diners Club, Discover, JCB and Carte Bancaire- saw the new requirements of PSD2 as an opportunity to work on smoothing the user experience too. With 3D Secure v2, the card schemes introduced a method that, thanks to the new authentication technology, promises not only fewer cases of fraud, but also a higher conversion rate compared with the first version of 3D Secure.

Increase your conversion rate while adapting to the new regulations

3D Secure vs. 3D Secure 2 comparison

What are the concrete differences?

What advantages does the customer have with 3D Secure 2?

The benefits of 3D Secure 2 for you

Enjoy a completely customizable and flexible payments solution for any platform business model.

Consistant and Flexible use across all end devices

We focus on a smooth and meaningful user experience across all channels, including wallets and apps

Superb user experience

Seamless -invisible- integration of the authentication process with the shopping experience to make the payment as frictionless as possible

Optimised data exchange

Our risk-based authentication module provides additional fraud protection while helping boost sales

Strong customer authentication as an EU-wide measure against fraud

There are many ways for companies to combat fraud actively, from anticipating and combating fraud through machine learning to manually checking payments. 

A particularly effective method is to perform comprehensive authentication to verify the identity of a customer before an online payment is even processed. 

There are three different types: single-factor authentication (e.g. using a password), two-factor authentication (e.g. using a unique authentication code combined with a password), or multi-factor authentication.

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