As far as online payments are concerned, the business needs to find out ways to deal with the online frauds. Luckily today, verified by Visa stands at the forefront of security. Thanks to this amazing technology and the 3D secure version 2 protocol, the merchants can easily protect themselves from fraud. And, this is what we will talk about in today’s article.
We are aware that payments frauds are increasing day by day and these frauds cause a lot of losses for merchants. The moment a customer notice something suspicious, the customer will fight a chargeback, and this is no less than a nightmare.
Let us understand a few basics here. Many people do not what is ‘verified by visa‘. If we put it simply, verified by visa a cluster of actions that ensure a legitimate transaction by the card owner. This system make payments easier, customers feel safe, the chargebacks are reduced and the cart abandonment reduces as well.
How does it work?
According to Visa, this process is completed in two steps:
Step 1: the customer enters all the card details. The card identity is confirmed by the issuers. If the issuer has any doubts during the authentication process, the user asks for the verficiation by visa password.
Step 2: if there are no additional requirements, the issuer will work behind the scenes and confirm the transaction.
Using verified by visa is very easy. The user doesn’t need to install any extra applications. There are just a few extra checks to ensure that the transaction is safe and sound.
NOIRE Pay uses the same 3D secure technique to safeguard its merchant accounts. Our financial experts team will help you understand this even better. You can always reach out to us for your next merchant account and we shall be happy to help you.
The 3D secure version 1.0 was too good. Based on the systems of this version, the 3D secure version 2.0 was created. It is always in the interest of the merchant. Know how it works:
- It is highly improved and customers are less frustrated.
- It offers multi device support for a better customer experience.
- Better analytics with the help of increased data support
The 3D secure version 2 have made things easier for the merchants, users and issuers. The more the better, the version has created a win-win situation for all the parties.
To know more about 3d Secure Version 2 please visit the Website: Noire.com
