According to the press release, the solution will enable issuers to create tailored cardholder authentication experiences that can help reduce online fraud. Marqeta’s 3D Secure solution is certified with Visa 2.2. Standards and is designed and built in-house to allow for greater customisation and control over fraud and authentication decisions.
3DS is a protocol that applies to transactions where the card is not present (CNP) such as online and mobile. Card networks, including Visa and Mastercard, expect issuers to be enabled with 3D Secure, while Marqeta’s 3D Secure can help European issuers to comply with the SCA regulatory obligations.
Moreover, Visa and Mastercard are expected to enforce liability shifts which hold issuers liable for fraud if 3DS has been successfully applied. As online transactions continue to increase in the wake of COVID-19, the need for security like 3DS is becoming essential to help fight against fraud across all markets, and not just those that are regulated by SCA. This includes companies in the US and other markets where 3DS can be applied for better identity management and fraud protection, and not purely to follow mandates.
Therefore, Marqeta’s 3D Secure solution provides multiple options for companies to integrate depending on their specific authentication needs, such as:
owning and customising the authentication experience for cardholders;
authenticating and authorising transactions on one unified platform to minimise integration and cost;
enhancing data sharing between parties to better identify cardholders and reduce their friction.
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