What benefits does 3D Secure bring?

3D Secure offers several significant benefits for both consumers and merchants by enhancing the security of online transactions. Here are the key advantages:

 

1. Additional Assurance: 3D Secure provides extra verification when making purchases online. By requiring authentication through a one-time password (OTP) or a push notification, it ensures that the person making the transaction is the legitimate cardholder.

2. Fraud Prevention: The additional layer of security helps prevent fraudulent transactions. This is particularly important in the e-commerce space where card-not-present fraud is a major concern. By verifying the identity of the cardholder, 3D Secure reduces the risk of unauthorised transactions.

3. Legitimacy of Merchants: Customers can be confident that any online merchant offering Verified by Visa (VBV) or MasterCard SecureCode (MSC) services is a legitimate commercial entity. This trust in the transaction process can increase customer confidence and satisfaction.

4. Improved Checkout Experience: With the introduction of 3D Secure 2.0, the process has become more user-friendly. Enhancements such as biometric authentication and tokenisation make the verification process smoother and less intrusive, which can lead to higher conversion rates and fewer abandoned carts.

5. Free Service: 3D Secure is provided free of charge to cardholders. There are no additional costs for using this service, making it an accessible security feature for all users.

 

By adopting 3D Secure, both merchants and customers benefit from increased security, reduced fraud, and an overall safer online shopping experience. For more information, visit the myPOS Support page. If you need further assistance, please contact the myPOS support team.