search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
PROCESSING.COM


Visa 3-D Secure 2.0 Payment security, evolved.


Connected devices are growing, exponentially. Consumers want to shop seamlessly and on their preferred devices. But this opportunity for eCommerce has also enticed fraudsters to go digital. Visa 3-D Secure 2.0 delivers an extra layer of security. Transactions can be approved with confidence. And consumers and merchants can shop and ship with peace of mind.


When payment processes are too smooth, they can


increase the chance of fraud taking place


customers to authenticate themselves may be enough to dissuade fraudsters and customers from abusing the bonus system.


This is because customers are already giving bonus abusers pictures and documents used for KYC. With the additional layer of security 3D secure 2.0 is adding, customers will have to give even more personal information to fraudsters, in order for them to be able to abuse the bonus system. We’ll therefore likely see customers being less willing to hand out the information used for the authentication process as part of 3D secure 2.0 and in turn, we’ll witness fewer instances of bonus abuse.


This sort of protection for operators could result in some fantastic developments in the iGaming industry.  operators may be more willing to offer bigger and better bonuses to customers. The implementation of the scheme may therefore result in the growth of bonus promotions in the industry, making it a more dynamic and competitive environment, where operators are able to provide additional perks and offers to customers, without worrying about multi-accounting.


CUTTING OUT CHARGEBACKS 3D secure 2.0 may also prove to be an essential tool


for fighting chargebacks for many iGaming operators. Chargebacks are an ever-growing problem for many industries as customers are increasingly making purchases online. It is important for iGaming operators to stay on top of this type of fraud. 3D secure 2.0 will help achieve this in a number of ways. Firstly, consumers have to authenticate themselves with the card scheme directly (Visa, Mastercard, American Express etc), or are authenticated with additional contextual data (such as device information and their location), meaning it is easier for operators to fight disputes and prove that a customer did actually make a transaction. In addition, liability for chargebacks will shift in certain cases. If authentication takes place during the payment process, under 3D secure 2.0, liability shifts from the operator to the issuing bank if the payment is disputed.


A POSITIVE OUTLOOK


3D secure 2.0 could and should be a fantastic scheme for iGaming operators over the coming years. If used correctly, it will enable them to provide secure and smooth


3


The issuer reviews the contextual data shared by the merchant.


Shared data includes type of merchandise, shipping location and device type.


3-D Secure 2.0 is built on a ten-fold increase in data exchanged between the merchant and the issuer.


4


After reviewing the additional data, the issuer successfully


authenticates Maya’s card and feels confident approving the transaction.


The majority of transactions


are frictionless. The authentication occurs behind the scenes, without contacting the consumer.


In rare instances, when the issuer wants further assurance, the


cardholder may be given a simple challenge, such as a one-time password sent to their phone.


1


Maya buys a smart TV on her mobile device. 3-D Secure 2.0 supports eCommerce purchases.


2 The merchant wants to make sure it's


actually Maya making the purchase and initiates authentication via 3-D Secure 2.0.


Half of eCommerce declines are actually legitimate.


Maya’s TV is on its way. 5


3-D Secure 2.0 results in higher approval rates, additional fraud protection, fewer messages for speedier checkout & increased sales.


payments services to their customers. This will in turn, build trust among customers and promote brand loyalty. What’s more, the additional step in the authentication process may help problem gamblers by giving them more time to think about making the payment. As a result of this scheme change, transformation will take place across the industry, such as increased use of bonus promotions, reduced bonus abuse and a reduction in payment disputes.


However, to make the most of these benefits, iGaming operators should consult payment solution providers to establish what works best for their platform and their customers. That way, they can successfully balance smooth payment processes with essential security features.


CIO AUGUST 2019 53


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10