Cardknox adds support for 3-D Secure 20 to combat E-Commerce fraud and reduce Chargebacks
According to EMVco, the 3-D Secure 2.0 (3DS2) technology is the next-generation e-commerce payment security protocol. 3DS2 authenticates cardholder identities in real time during the checkout process, so you can reduce charges and fraud without compromiseing on the purchase experience. This technology is now available via Cardknox gateway e-commerce integration, as well as PaymentSITE, CardKnox's customizable online payment form.
One of the benefits of 3-D Secure 2.0 technology is:: 3D, 2D and 3S av: Featuring: 2:3 and 2 with 3-d technology.
- Robust, risk-based authentication that uses more data points than the original 3DS is used.
- Reduced friction and accelerated checkout process.
- Embedded authentication without redirects that slow checkout.
- Due to less abandonable shopping carts, increased sales due to fewer sales cart sales.
- Reduced fraud and chargebacks.
The Cardknox payment gateway gives the cardholder's issuing bank the customer- and transaction-specific data points to the merchant''. To facilitate 3DS2 for merchants, the CardKnox card card gateway provides a The bank can then evaluate the risk of fraud without a use of redirects within the checkout flow that require the cardholders' involvement. If the bank successfully verifys the customer's identity and decides that the transaction is very risky, they authorize the purchase. In the unlikely event that the bank is unable to authenticate the cardholder's identity with the provided data points, the person who is using the predetermined password will be asked to enter its preset password for verification purposes.
3DS2 improves on the original 3D technology by collecting and cross-referencing 10x more data points than before and filter out fraud and verifys the cardholder's active participation in the sale. Consequently, merchants will see a decrease not only in fraudulent transactions, but also in friendly fraud chargebacks if he disputes based on legitimate transactions and claims to get his money back.
In response to the increasing number of cards not-present transactions that occur primarily online, 3DS2 technology was developed. In 2021, the average cost of e-commerce fraud will exceed twenty billion. A study by Juniper Research found that a report from Junipers Research shows that the research report found more than 30 percent of all data. The merchant often assumes responsibility. This loss would represent an 18% increase, compared to the 17.5 billion recorded last year.
The e-commerce merchant ecosystem is harmed by online fraud and chargebacks, says Mark Paley, VP of Sales at Cardknox. "With the support of 3DS2, merchants can reduce their liability for fraud while providing their customers with more seamless checkout experience. As the e-commerce world is evolving, we're pleased to add this latest technology to our extensive range of features."
For more information about Cardknox payment gateway and 3DS2 technology, visit www.cardkoo.com/secure/.
About Cardknox Cardknox is an omnichannel payment gateway that can easily be integrated with POS, ERP, e-commerce and mobile platforms. Cardknox serves thousands of partners and customers across all major industries in the United States, the U.K., and Canada. Offering flexible payment solutions and innovative technologies to qualify transactions for the lowest interchange rates, CardKnox operates in For more information, visit the website. www.cardknox.com www.Carkoo.co.uk I believe it's not possible.
Media Contact Contact: CardknoxAlex VaroneMarketing Manager(844) 227-3566 247-3466. [email protected]
SOURCE Cardknox, SURCE.