Did you consider that $56 billion was stolen from identity theft in the last year? There are many methods to prevent fraud. Secure payment using multi-factor biometrics, and passwords are common methods of authentication for payments. Yet, 3D Secure 2 gives an uncomplicated payment authentication for online transactions. The process will be simple for users, without additional steps or passwords to be remembered.
In this blog, we will explain the ways that frictionless authentication works, and how it can help your company.
What is Frictionless Authentication?
This method is a form of authentication that doesn’t require users to follow additional steps or keep track of different passwords.
This makes it simpler for customers as they don’t have to think about additional steps.
What are its Benefits?
- The benefits of frictionless authentication are numerous for companies
- The benefits of these include but aren’t only limited to:
- Security boosted
- Improved customer experience
- Reduction of fraud
3D Secure is a method to ensure that online transactions are safe. The frictionless authentication provides an additional layer of security, not making users remember passwords for other accounts.
This simplifies the process for customers and may result in increased sales and increased customer loyalty. Additionally, 3D Secure is designed to minimize fraud, meaning that frictionless authentication could further decrease this by making it difficult for fraudsters to gain access to the accounts of customers.
What is Frictionless Authentication? Does Its Work?
3D Secure is a way to ensure that online transactions are safe. It employs various layers of security in order to shield customers and businesses from fraud. The first layer is known as frictionless authentication. This means that users don’t need to remember a multitude of passwords. The alternative is that 3D Secure uses a combination of the device used by the user or browser as well as the 3D Secure SDK to verify the authenticity of the customer. The system is designed to make it simple for customers to use while still ensuring an extremely secure level of protection. 3D Secure is constantly evolving to keep ahead of fraudsters and deliver the most secure experience possible for customers.
What Can it Do? Used to Improve Security for Online Users?
It is a fantastic method of ensuring that people are who they claim to be. are when Card Not Present (CNP) transactions are taking place. This makes it harder for criminals to gain access to the data needed to commit fraud. The use of frictionless authentication can decrease the risk of fraud, by making it difficult for criminals to buy in the disguise of being a client. When combined and other measures to protect yourself like 3D Secure, frictionless authentication can provide a superior degree of security both for internet or CNP transactions.
What Are Some Of The Challenges Associated With Frictionless Authentication?
One of the issues with frictionless authentication could be that it can be difficult to set up. 3D Secure is a complex system, and the addition of frictionless authentication could make things more complicated. Additionally, the use of the system requires that merchants be equipped with 3D Secure-enabled credit cards to be able to work. This could be a problem for businesses that don’t have 3D Secure-enabled cards as they’ll require the cards in order to provide frictionless authentication for their customers.
Another problem with frictionless authentication is that it can be challenging to resolve. If there is a problem in the process and it is difficult to pinpoint where the issue is. This is a major issue for companies that aren’t familiar with 3D Secure.