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Data for this episode of Truth In Data provided by Mercator Advisory Group’s report – The State of Debit Card Fraud
- Simpler, more user-friendly, checkout process because cards are auto-enrolled
- 3DS2 gathers & sends up to 150 data points so issuers can evaluate fraud
- Specifications have been added for non-browser-based apps which didn’t exist for 3DS
- Version 2 also accommodates account tokens not just card numbers in the transaction flow
- Version 1 of 3 Domain Secure was notoriously problematic – it required consumers to register cards and authorize every purchase
- Version 1 of 3DS caused consumers to abandon their shopping carts due to friction
About this report
Managing debit card fraud needs a new approach. Debit card fraud since implementation of EMV is well managed despite a barrage of threats, but as the shift in transactions toward card-not-present channels continues and criminal tactics evolve accordingly, fraud prevention takes on a more critical role. Cardholders can be more effectively engaged in the fraud prevention effort if it is viewed as a product relationship service not a back-office function. Keeping debit cardholders safe from fraud protects not just the card but the core relationship.