3D Secure 2.0 provides fraud protection and online payment security to all of its stakeholders. These participants involve issuing banks, acquiring banks, merchants, and cardholders - buyers. Implementation of 3D Secure ensures additional authentication, which reduces potential fraud, including friendly fraud, lost-and-stolen card fraud, and middleman fraud. Let’s find out who is involved and how do they benefit from the 3D Secure solution.
Fear of fraud is one of the top reasons many Internet users prefer not to shop online, according to ResearchAndMarkets.com. Similar results are shown in Baymard's research: 17% of individuals said they worry about online card data security, which stops many of them to shop online. This particular buyers’ pain point should encourage banks to implement technology that provides online payment security without disrupting user experience while shopping online. An additional layer of security provided by 3D Secure makes buyers more confident when deciding to purchase and pay by card online. Please keep reading and get more insights into the 3D Secure ecosystem and its participants.
To get a bird's-eye view of the 3D Secure 2 ecosystem ASEE prepared an infographic showcasing all of its participants and their respective roles.
Now that you understand the roles in the 3D Secure process, we want to point out benefits for each of the stakeholders. Let’s see how you profit from the 3D Secure solution.
By implementing 3D Secure solution, all parties benefit. So take a closer look and see how each 3D Secure 2 participant gets a piece of their cake.