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As criminals continue to target e-commerce transactions, online retailers are tasked with employing advanced methods to thwart them. Paay LLC, an authentication-services provider, and OpenPath Inc., an Irvine, Calif.-based payment-services company, are developing a universal 3-D Secure plugin to help with that.
Slated to be available in the second half of 2021, the plugin will enable a merchant to adopt 3-D Secure, which is an authentication technology that ensures the card used in an online transaction is wielded by the authorized cardholder. E-commerce platforms Shopify, WooCommerce, and Magento are already slated to work with the plugin, New York City-based Paay says. The sole requirement is that the processor, gateway, or shopping cart be compatible with the 3-D Secure 2.0 standard.
“Now, more than ever with the acceleration of e-commerce, merchants need a way to protect their e-commerce transactions and make sure their top line or bottom line isn’t being hurt by fraud,” Samantha Martin, Paay’s marketing director, tells Digital Transactions News. The plugin will authenticate the transaction at the point of interaction online, she says. The technology also will provide a liability shift that could reduce chargebacks. Merchant integration is simple and quick, Martin says.
The plugin can be used in real time in the background, a mode adopted by Paay’s U.S. client. The authentication process using 3-D Secure is frictionless, Martin says. “Our customers choose to use it on all of their transactions because it doesn’t impact the transactions,” she says. The plugin also will be compatible with regulations in the European Economic Area, which has additional authentication requirements.
