The new case for 3-D Secure
If your experience with 3DS was several years ago – and you haven’t been exposed to the improved benefits of EMV® 3-D Secure – things have changed. EMV 3DS is much more sophisticated, providing a more seamless customer experience and improved features, that in this current climate of explosive ecommerce growth, is important – both for you and your customers.
But is EMV 3DS enough to combat modern threats without driving consumers away? According to podcast guests Jaime Howard of CardinalCommerce and Kevin Weller of Visa, the answer is yes. According to Howard, what EMV 3DS does is give more choice and control back to merchants and issuers, and supports authentication on mobile devices, which was not possible with 3DS 1.0. All while holding the user experience in the highest regard. Think about that – the ability to be protected, your mind at ease, and still have the convenience of shopping on your mobile device or smart assistant.
For some background, EMV 3-D Secure, the updated protocol version, is an option that’s designed to help – in both regulated and non-regulated regions – by authenticating card-not-present transactions. It lets merchants and card issuers use what each knows about their mutual consumer to make better risk decisions. Before authorization. And EMV 3DS helps solve for PSD2 SCA.
EMV 3DS gathers up to 150 data points to evaluate a transaction – up to 10x more than the original protocol! More information = the higher decision accuracy. EMV 3DS helps lower false declines, increase approvals, and reduce fraud. It provides more flexibility and an enhanced user experience than you may remember from 3DS 1.0.
With EMV 3DS, when a transaction is trusted, users just hit buy and get the payment confirmation message. When a transaction is suspicious, or the issuer doesn’t think it is legitimate, the user will authenticate the transaction – but remember, that’s not a bad thing. EMV 3DS holds the user experience in the highest regard – and that’s really where the benefits of EMV 3DS really come through. More information, rich data to make more confident decisions, and an overall better user experience.
To hear more about the differences between 3DS 1.0 and EMV 3DS, join host Michael Moeser, Senior Analyst, PaymentsSource, and guests Jaime Howard, head of Global Product and Marketing, Cardinal Commerce, and Kevin Weller, Senior Director, Security and Products Group, Visa. Together, they will share their insights and expertise on EMV 3DS, PSD2 SCA and how to navigate the changing ecommerce world. Tune in now! And as always, if you have questions about your business, EMV 3DS, or any of the payment decisioning solutions Cardinal offers, we’re here to help. Let’s talk.