Cardzone 3DS solution
Growth in e-Commerce Transactions
Over the last few years the ecommerce and online business has become highly popular. It has grown to a greater extent due to its ease, flexibility and convenience. With this, the use of credit cards as the preferred mode of online payment has also increased considerably.
However, many people claimed about the hacking, misuse and similar illegal usages of the credit cards on the internet. To have a safe, secure and hassle free online merchandising a new system was introduced with the title 3D secure.
What Is 3D Secure Card Validation?
3D Secure was designed and developed by Visa and MasterCard to secure online shopping transactions and authenticate the cardholder’s identity. 3D Secure was designed to reduce risks of unauthorized card usage. With 3D Secure in place, online shopping has become more safe and secure for the merchants and the customers.
Visa has branded their system as “Verified by Visa” and MasterCard offers its system under the brand of “MasterCard SecureCode.”
3D Secure 2.0
3DS 2.0 is expected to make the transaction both more secure and friction free. Among the expected upgrades include user authentication by one-time passwords, biometrics and backend authentication; authentication over multiple platforms; and there will not be any more pop-up windows during the checkout process (arguably the biggest complaint among merchants).
With such upgrades, consumers will experience a smoother, more secure checkout process while merchants can expect less cases of checkout abandonment.