Global Authentication Protocols Used to Combat Fraud
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.
