Research indicates that global e-commerce spending has surpassed the $3.5 trillion mark, with 1.2 billion card-not-present purchases being declined globally each year.  

With such a wide variety of connected devices, consumers can now purchase goods and services online more easily.

However, this has introduced certain challenges when it comes to addressing fraud and creating frictionless checkout experiences. 

This is why Visa Secure and EMV 3-D Secure were introduced on the market around 15 years ago.

To find out more about this, keep reading below!

What is Visa Secure?

Previously known as Verified by Visa, Visa Secure is a program that works in conjunction with 3-D Secure (more on this in the section below), which makes online shopping more secure for merchants and customers alike.

In the past, a pop-up would appear on the e-commerce site which would prompt the customer to enter a PIN sent to them by SMS or a password known only by the customer.

However, with certain customers fearing that this is some form of intrusion, this led to abandoned carts.

Now, Visa Secure appears in an in-line window on the merchant’s checkout page, while the processes of verifying the customer’s identity happen behind the scenes, ultimately leading to improved security and reduced fraud. 

What is 3-D Secure?

A recommendation made by Visa is that both issuers and merchants support both versions 1.0 and 2.0 3-D Secure specifications to ensure that “all stakeholders can initiate and respond to either authentication message version and maximise authenticated transactions.”

But what is 3-D Secure? It is a service offered by Visa and Mastercard, which enables users to make online purchases securely by using a debit or credit card. 

It is a service that’s free of charge and uses password protection to authenticate customers as an added fraud prevention measure. 

Benefits of Visa Secure and 3-D Secure

With the scary statistics on online fraud, there are several benefits for customers using Visa Secure. These include peace of mind and more successful checkouts. 

Meanwhile, merchants and acquirers can enjoy enhanced transaction security, offer a better customer experience and experience more completed sales. 

Finally, the benefits for issuers is that they can enhance their fraud management capabilities and have improved decision making that keeps cards “top of wallet.” 

Closing remarks

With high cases of online fraud worldwide, it’s critical to stay secure online.

This is why major card providers like Visa are offering their customers and merchants increased safety and convenience when it comes to e-commerce.

In this post, we looked at what Visa Secure and 3-D Secure are as well as their benefits for customers, merchants and issuers.