Over the past twelve months, almost everyone in the digital payments industry has been discussing the implications of the release of the 3-D Secure (3DS) 2.0 specifications. Since the old, initial 3-D Secure protocols have been around for well over ten years, this is undoubtedly a monumental shift in the industry.
But there are still a lot of questions surrounding these specifications, specifically about how, exactly, they will impact merchants, consumers and issuers in the evolving digital commerce world.
Today, change is a constant in this industry. Even with this change and evolution over the last several years, the original 3DS protocols have remained in place.
While some technology providers in the industry have found certain ways, over the years, to effectively work with the original protocols, it was evident that change was necessary.
3DS 2.0 will allow merchants and issuers to leverage even more data in the authentication process, so that they can be more efficient and effective when assessing transactions for potential risk and subsequent fraud. Additionally, with these new specifications, consumers will no longer have to remember static passwords or use knowledge-based questions during the authentication process. In their place, the issuer will send them a one-time passcode for authentication, to their mobile phone, for a much more streamlined consumer experience.
In this new, data-sharing environment, it will be even more important for merchants and issuers to utilize a modern authentication tool that can properly detect fraud and minimize false declines. Fortunately, Cardinal Consumer Authentication (CCA) is a rules-based authentication solution that can fill both needs. With One Connection to Cardinal, we can Drive your Digital Commerce.