November 16, 2021 at 9 am PDT / 12 noon EDT
The acceleration of digital transformation is driving the growth of new digital commerce models across the globe. And the 2021 Holiday Shopping Season is expected to be a record year for digital commerce and payments, such as digital wallets or buy now, pay later (BNPL) options.
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Unfortunately, fraudsters are also evolving their strategies as demand grows for these new models. Card-not-present (CNP) fraud, including purchases made via mobile apps and devices, are associated with more than half of all gross fraud losses. How can merchants and issuers prepare themselves to protect against fraud and enable consumers to enjoy a secure, seamless shopping experience?
3-D Secure (3DS) is a key tool used by issuers and merchants to effectively address these needs. When issuers and merchants fully collaborate via 3-D secure all parties benefit from greater precision detection to distinguish genuine from fraudulent users which translates into higher authorization rates, increased revenue and greater overall profit potential.