What is 3D - Secure?
3D-Secure was designed enhance security and provide greater authentication when using debit or credit cards for online purchases. The name varies depending on the card type, “MasterCard SecureCode”, “Verified by Visa” and, in the case of American Express cards, “Safekey”.
With 3D-Secure, once a customer has entered their card information, he or she is asked to enter a password that helps the card issuer identify the cardholder.
TrekkPay and 3D-Secure
TrekkPay users can now choose to activate 3D-Secure.
Once activated, 3D-Secure will only be triggered on payments above $200. This is because we’ve found that the extra verification process on low purchases, which commonly happens on mobile, tends to be a hassle and deters users from completing a payment.
For additional security, you can set up your TrekkPay payment gateway to only accept credit cards that have 3D-Secure. Here, transactions with cards that don't have 3D-Secure will be denied and your customers will be asked to use another card to complete the payment. To enable this option, speak to your Account Manager for further details.
After logging in to your TrekkSoft account, locate the Settings drop-down menu in the green bar at the top of the page, and select Payment Gateways.
On the payment gateway page, tick the 3D Secure box. Now you are set, your 3D secure is live!
3D-Secure reduces the risk of fraudulent transactions and decreases the number of disputed transactions. It boosts customers’ confidence and helps you establish greater trust with customers when booking with you.
When a transaction is completed with 3D-Secure, it is the card issuing bank that assumes the risk, not the merchant. More importantly, chargebacks are not permitted if the merchant complies with the acquirer’s legal requirements (i.e. 3D-Secure has been activated for the card; the payer has been redirected to a website where card authentication takes place; the authentication process was successful).
While using 3D-Secure is advisable, the additional steps your customers will have to take to make a payment can be inconvenient. At the end of the day, you will have to decide whether adding this extra step will benefit your business.
Before making a decision, consider how much you stand to gain from chargebacks, how much of your business you protect by deterring fraud and how much sales you might lose from this added step.