3D Secure has never been an overly popular security measure for many shoppers. Appearing as a way to verify a card purchase online, it essentially gets in the way of crafting a pleasant eCommerce experience due to users having to fill out password boxes on tiny screens and recall the name of their 4th pet to make their purchase. Naturally, it had to get the cut.
So, MasterCard and Visa have decided that it’s time to remove the need to enter passwords when they roll out 3D Secure 2.0 in the new year. How are they going to do this? Apparently it’ll be through the use of ‘next-gen’ systems based on biometrics and token-based prompts.
It’s definitely overdue a revamp, that’s for sure, so any update is a welcome one.
“All of us want a payment experience that is safe as well as simple, not one or the other,” said Ajay Bhalla, president of enterprise security solutions at MasterCard, reports The Guardian. “We want to identify people for who they are, not what they remember. We have too many passwords to remember and this creates extra problems for consumers and businesses.”
It seems that the change has come from a growing pressure from retailers and consumers, and the predictions that eCommerce – specifically on mobiles – is set to increase dramatically over the coming years.
“The new standard will move security infrastructure beyond the PC era, supporting emerging technologies and changing consumer needs,” said a MasterCard spokesperson after emphasising that mobile payments are expected to account for 30 per cent of all online retail sales by 2018.
How do you feel about the change of the 3D secure system? Do you think customers will want to buy into biometrics or token-based authentication systems, and will it be a seamless process a customer never sees?
Let us know by commenting below.