This paper outlines the existing and evolving standards being used for authenticating card-not-present payment transactions in the fight against fraud in the e-Commerce environment. It considers 3D Secure 1 and 2; the in-country standards of India (PaySecure), China (UPOP) and Russia (MIR); the European PSD2 Directive; and the strong growth in online payments forecast for the Asia Pacific region.
- PSD2 (Europe)
- 3D Secure 1.0.2
- 3D Secure 2 by EMVCo
- RuPay PaySecure (India)
- UnionPay Online Payments (China)
- MIR Payment System (Russia)
This paper identifies the top trending authentication methods predicted to affect the payment industry's dynamic of combating fraud during card-not-present transactions.
The new EMV® 3D Secure protocol, or 3D Secure 2 (3DS2), released by EMVCo is designed to address a number of key aspects of the previous protocol and cement the technology’s reputation as one of the most resilient solutions in the fight against card-not-present (CNP) online fraud.
Online payment trends keep evolving as customers continue to favour more user-friendly solutions and solution-makers compete for market share by constantly trying to re-invent the next big thing, to fulfil that need.