MAKE SECURE ONLINE PAYTMENTS SIMPLE
TriDES2 is a new generation of 3D Secure solution for issuing and acquiring institutions which want to reduce the risk of fraudulent online payment transactions with the Strong Customer Authentication.
Online Fraud is increasing
Online shopping ecosystem today offers plenty options and possibilities to be frauded so merchants and aquirerers need to invest more time and money to provide with the simple and fast solutions, but with much higher levels of security.
This is followed by online fraud which generated $31 billion chargeback costs for merchants worldwide in 2017. Merchants are the victims of most of the frauds, creating them additional operational costs.
And that can be changed!
TriDES2 is a new generation of 3D Secure solution for issuing and acquiring institutions which want to reduce the risk of fraudulent online payment transactions with the Strong Customer Authentication. Following the new 3D Secure requirements, TriDES2 enables enhanced authentication methods including Transaction Risk Analysis and Risk Based Authentication, which enable a frictionless online payment experience for end users.
Using 3D secure as a method for fighting the online fraud, merchants, issuing and acquiring banks work together. 3D Secure costs are being spread between all involved parties.
In order to reduce reputational risks, card schemes took steering role to assure maximal efficiency of 3D Secure and motivate issuing and acquiring banks to deploy 3D secure programs.
At the time when an end user makes an online payment with a credit or debit card, 3D Secure initiates the authentication process which will allow them to use an authentication method supported by their issuing bank. In fact, through 3D secure, the issuing bank authenticates its client at the time when an online payment is made, thus reducing the risk of fraudulent transactions.
Following the PSD2 regulative and Strong Customer Authentication requirements, in 2016 EMVco released 3D Secure 2.0. A year later the 3D Secure 2.1 specifications were released and brought focus to Risk-Based Authentication (RBA) and Strong Two-Factor Authentication (2FA). The result was an increase in the online payment security level, but also an improvement in user experience during online and mobile purchases.
That increases online payment security level but at the same improves the user experience during online and mobile purchasing.
TriDES2 brings benefits to whole payment chain
Merchants and acquirers
Interested In TriDES2?
Nosmay has 18 years’ experience in Business and IT Strategy, Consulting and
Implementation for enterprises, companies and institutions across varied industries and
operating in Africa and the UK.