26 March 2017
Visit EBAday.com

Visa tells Europe to be ready for 3-D Secure 2.0 by April 2018

21 October 2016  |  11986 views  |  3 Online Shopping

As EMVCo prepares to unveil a major update to the 3-D Secure specification for authenticating online transactions, Visa says that it expects to set a migration deadline for European merchants of April 2018.

3-D Secure is a messaging protocol used by the payments industry, under the Verified by Visa and MasterCard SecureCode banners, to enable consumers to authenticate themselves with their card issuers when making online purchases through PC web browsers.

With the ecommerce landscape changing massively in the years since its release, EMVco is preparing a 3-D Secure 2.0 in a bid to help the industry deliver a globally interoperable and better user experience that also accommodates new devices, such as mobiles, and ways to pay, such as in-app purchases.

Documentation is slated for release in the first half of 2017 and Visa says that it is already doing internal development to make Verified by Visa and its consumer authentication service ready ahead of early industry adoption by the middle of next year.

However, the card giant says that to make sure stakeholders have time to implement new products and services, it will hold off on certain rules - such as fraud chargeback protection on merchant-attempted 3-D Secure 2.0 transactions - until the programme activation date.

Activation dates will vary between regions. In Europe, where risk-based authentication is already heavily in play, activation is likely to be April 2018, but the plan for other markets has not yet been decided.

Mark Nelsen, SVP, risk and authentication products, Visa, says: "As the industry moves collectively to adopt and implement the 3-D Secure 2.0 protocol, Visa will partner with stakeholders around the globe to deploy pilots in advance of the program activation date."
KeywordsE-COMMERCE

Comments: (3)

Melvin Haskins
Melvin Haskins - Haston International Limited - | 21 October, 2016, 11:44

I will not use Visa to buy anything on the web after having two transactions refused without telling me or trying to contact me - both of which were valid and caused me embaressment. I spend $40,000 per annum on my Mastercard and have never had a problem in more than 20 years.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Tom Hay
Tom Hay - Icon Solutions Ltd - London | 24 October, 2016, 18:37

Let's hope that 3-D Secure 2.0 is compatible with PSD2 Secure Customer Authentication requirements, because the current version doesn't seem to be!

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member
A Finextra member | 11 November, 2016, 10:53

So Visa Europe has been taken over by Visa Inc and the Americans are now telling Europe to implement 3D Secure!!

And what about American and Asian merchants, where it must be stated most fraud emanates from, what happens in these continents?? Do they continue to party??

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Cambridge scientists blast 3-D Secure system

Cambridge scientists blast 3-D Secure system

27 January 2010  |  13690 views  |  0 comments
Visa explores compulsory VbV registration

Visa explores compulsory VbV registration

07 January 2005  |  6499 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit abe-eba.euVisit capgemini.com

Top topics

Most viewed Most shared
French retailer Carrefour launches online bank accountFrench retailer Carrefour launches online...
57367 views comments | 16 tweets | 36 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
9710 views comments | 43 tweets | 26 linkedin
Can banks really win in the payments business of the future? – new Finextra reportCan banks really win in the payments busin...
8939 views comments | 23 tweets | 37 linkedin
MAS to roll out national KYC utility for SingaporeMAS to roll out national KYC utility for S...
7930 views comments | 19 tweets | 28 linkedin
SecureKey taps IBM to put identity on the blockchainSecureKey taps IBM to put identity on the...
7377 views comments | 22 tweets | 15 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job