A report from E-commerce attacks rates has confirmed that around 7% of the Americans have been the victims of online identity fraud. A significant increase in E-commerce fraud attacks has raised the importance of preventive measures.
You have to protect your customers and E-commerce businesses from online payment fraud. 3D secure is one of the latest resources that can reduce the chances of unauthorized payments and charges in your online business. With 3D Secure, a range of extra measures is applied to the credit card system to authenticate the cardholder making the transaction.
3d Safe Authentication is an essential fraud protection mechanism and applies to all businesses using Opayo technology to manage transactions. It enables shoppers to build and allocate a password to their card, which is reviewed if a purchase is made to a platform that facilitates the mechanism’s usage.
Adding password authentication provides additional security for purchases that are performed online.
3D Safe is the fraud protection system designed that gives liability protection to businesses with authenticated purchases. It offers extra security for businesses that utilize the system, as compared to those who do not.
3D secure allows you to know about the legitimacy of a cardholder. It prevents the purchase of a fraudster from your online business, so you don’t have to deal with chargebacks and disputes.
The increased number of online frauds represents an alarming situation, and 3D Secure reduces the number of online frauds, including unapproved card use and identity theft. It helps protect the account information of legitimate cardholders and enhances consumer trust on your website.
The liability changes from you to the issuer of your buyer’s card, and you are in a position to dispute the chargeback.
If you own a website as a merchant and 3D Secure on your website is enabled, and when a user who is verified by the secure program uses his card for making the online purchase, this is how the 3D secure work looks like.