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What is 3D secure?

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Every company and customer wants all online payments to be not only fast, but also as secure as possible. Unfortunately, many credit card transactions are often tracked by fraudsters who steal not only financial information, but also customers’ money.
In order to have as less cases of this kind as possible, a special security protocol was created, thanks to which all online payment card transactions are carried out with an additional, higher level of security.
In this article we will learn how does 3D secure work, how to activate 3D secure visa and other important questions.

The definition of a 3D secure

This security protocol was developed by CA Technology and was first used by Visa to improve the security of online transactions.
It is a special three-domain model, which is used to create another level of maximum security between authorization and online authentication.
In order to provide an increased level of transaction security, three domains are applied:

  • The acquirer domain. The merchant and bank receiving the transaction payment
  • Issuer domain. The financial institution that issued the card with which the buyer paid for a product or service.
  • Interaction domain. All of the necessary infrastructure for a payment card to support 3D secure.

This protocol uses a special exchange of SSL and XML messages to provide maximum security and authentication of transactions.

How does 3D secure work?

After the customer has placed an order and went to pay for this order with a MasterCard or Visa card, the system will ask him to enter the MasterCard SecureCode or Verified by Visa.
As soon as he/she does this, the transaction will be completed in the payment application or the system will redirect the client to the issuer’s website where he/she will perform authorization.

Benefits of 3D secure

The benefits that customers get from using this security protocol are clear. First, they get peace of mind and do not have to worry about their money being stolen.
But what are the benefits that 3D secure brings to retailers? They are many, too:

  • A significantly lower percentage of chargebacks. Using verified by Visa, the company virtually guarantees no chargebacks. MasterCard, on the other hand, offers no such guarantee.
  • Lack of liability. Usually the company is responsible for all chargebacks, but not in the case of 3D secure. Thanks to this security protocol, all responsibility for chargebacks is passed on to the issuing bank.
  • Maximum credibility on the part of the clients. This is probably the most important advantage, because the client is the source of the company’s profits, and if clients are confident in the added level of security, they are more likely to make a purchase and bring you profit.

What should the company tell its clients?

You might be surprised, but most of your customers know very little about 3D secure. And of course they have a lot of questions, such as how do i know if my credit card is 3D secure.
In addition to this, it’s likely that some customers will be unhappy with the extra steps and passwords they have to take. These customers can contact your company and it’s your responsibility to make them aware that 3D secure is good for them and offers them extra protection.
Try to convey this information to the customer in the simplest and most understandable language. Also, remind them that this extra layer of protection is completely free, without the need for them to pay additional fees.

Providing customers with this information will save your company from unnecessary questions, and will increase your customers’ desire to make online payments and purchase items from your store.

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