WEBINAR | CyberSource and Cardinal Commerce will host a live webinar on 'the new Era of 3D-Secure' on Wednesday 19th of November. 3D-Secure is the common industry name for the anti-fraud and chargeback solution by the major card schemes such as MasterCard, Visa, American Express, Discover and JCB.
3D Secure introduction
3D-Secure technology basically aims to identify the legitimate cardholder, in real-time, at the moment of online purchase.
In addition to the credit card number and the last three digits of the security code, the user must enter a password, such as date of birth (simple authentication) or a dynamic single-use code (strong authentication). This password is verified instantly by the card issuer. 3D-Secure prevents fraudulent use of cards online and protects the merchant from costly fraud-related chargebacks (the card owner reclaiming the money in case of fraud).
3D-Secure: Protection of Card Sales or Conversion Killer
MasterCard SecureCode and Verified by Visa are probably the best known 3D-Secure solutions. Discover's Protectbuy, American Express' SafeKey and J-Secure by JCB are less known. Regardless the solution, 3D-Secure offers merchants protection of their card sales, however, is also known to drive down conversion rates. The extra verification step detracts from the customer experience, often unnecessarily. Since the launch of 3D Secure, there have been calls for more flexibility in its implementation.
At this webinar merchants can hear how CyberSource, in partnership with Cardinal Commerce, is making 3D Secure more flexible through rules-based implementation. This means merchants would be able to benefit from the fraud liability shift of 3D Secure services and reduce the risk of checkout abandonment. Rules-based implementation means that merchants can configure rules to determine under what circumstances additional verification is presented to shoppers (e.g. above certain transaction amounts, new or returning customers, and the like).
The live webinar will be held on 19th November - 14.00 BST time | 15.00 Central European Time.