News
Online Security Just Got More Secure – 3D Secure
6 August 2007
3D Secure is a new protocol developed by Visa and MasterCard to help improve the security of credit card transaction over the internet. The technology which is very much like an online version of ‘chip and pin’ is designed to reduce the possibility of fraudulent transactions.
Traditionally it has been relatively easy for a card holder to deny they authorised a transaction and it has proven very hard for online merchants to prove otherwise. Ecommerce websites protected by the new 3D secure technology will require the card holder to enter a secret password tied to their credit card for the transaction to be authorised.
3D Secure stands for Three Domain Secure and is being marketed by the two leading payment card providers as ‘Verified by Visa’ and ‘MasterCard SecureCode’. The three domains are:
- The merchant’s bank – the Acquirer Domain
- The cardholder’s bank - the Issuer Domain
- The cardholder's bank and the merchant's bank - the Interoperability Domain
In July 2007, Pin Digital successfully implemented the 3D secure protocol on around 25 ecommerce websites. The updates took place after several months working closely with Protx the largest independent Payment Service Provider in the UK. As a Protx integration partner Pin Digital were given advance notification of the 3D secure protocol and provided with access to test the system in preparation for the launch.
Commenting on the updates, Managing Director Steve Noctor said, “The new 3D secure protocol should help reduce the financial exposure to our clients. Many of the ecommerce website we have developed have achieved multi-million pound annual online sales and with such large figures in mind even a small percentage saving in our clients' credit card charge-backs can add up to a significant sum. As such I’m sure the implementation of 3D Secure will be welcomed by everyone.”
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