Impact of the Strong Customer Authentication on E-commerce
What is 3D Secure? 3D Secure (3-domain secure) or also known as payer authentication is is an XML-based protocol designed to be an additional security step for online credit and debit card transactions and prevent fraud. It was first deployed by Visa and MasterCard and branded as “Verified by Visa” and “MasterCard SecureCode” respectively. Notably, other card networks also have developed this authentication tool- American Express has branded it “SafeKey”, Discover as “Discover ProtectBuy”, and JCB International as “J/Secure”. It is a three-part process, in which three parties are engaged: the issuer, the acquirer, and the card network. This process is controlled by a piece of software that is installed on the website of merchant known as Merchant Plug In (MPI), which communicates directly with the card networks. The entire process with 3D Secure enabled looks as follows: · The customer confirms the order and enters the payment card details at the checkout. · Th