70% of American users say security is
their biggest worry when making
mobile payments while
Mobile wallets expected to
become more popular than
debit and credit cards by 2020
50% of cybersecurity professionals are
sceptical about the safety of mobile
According to Visa, the enhanced 3DS
protocol (3D Secure 2) will reduce
card abandonment by 70% and
checkout times by 85%.
Frictionless Flow is perhaps the biggest improvement made to this 16 years old protocol. By performing risk-based authentication in the access control server (ACS), issuers are now able to approve a transaction without the need for input from the cardholder. That means no more annoying pop-up windows, and having to remember static passwords, removing friction from the checkout process; hence "frictionless flow".
3D Secure 2 can be used for more than just online transactions. With the addition of "Non-payment authentication", the cardholder can be authenticated even without them making a purchase. This is extremely useful for adding credit cards to e-wallets (gone is the $1 charge just to validate your credit card!)
Mobile devices have become an integral part of our lives, and consumers are increasingly shopping on their mobile devices. 3D Secure 2 has added a mobile SDK component, allowing merchants to natively integrate the 3D Secure process into their mobile apps, making the mobile checkout experience fast and seamless.