In 2016, over 50 percent of fraud losses were associated with card-not-present transactions and today, the global cost of such losses range from $25B to $40B.
The introduction of 3DS in the early 2000s was a necessary measure to mitigate loss and stall rapid growth in fraud – but with it came friction and frustration to the customer experience and confusion to merchants.
To help understand these changes, Credorax, the leading NextGen fintech pushing online payments, global acquiring and merchant banking forward, has written a whitepaper delving deep into the history of digital payment regulations and what merchants need to know today.
This practical guide for merchants implementing 3DS 2 and managing PSD2 SCA requirements coming into effect on the 14th September, provides the necessary information to answer the question: are these new requirements killers or converters for my business?
You can find the full whitepaper online.