EMVCo says it plans to improve its 3D Secure online payment solution by facilitating a more seamless transaction flow and integration with online merchants.
Introduced in 2001, 3D Secure has fallen short of adoption expectations due to retailer
concerns it was difficult to integrate and that authentication took customers away from their websites.
The technology requires customers to enter what amounts to a password to authenticate themselves before checking out a merchant’s site. Some observers believe 3D Secure has the potential to counteract online fraud as merchants adopt EMV at the point of sale in the US market. EMVCo also plans to expand the technology’s capabilities beyond browsers, enabling it to work on mobile apps.
Visa, MasterCard, and other major network transferred the technology to EMVCo in January. The standards body hopes to have a final spec in place, in addition to a certification procedure for the security spec written, by the end of 2016.
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