3D-secure is a security protocol that provides an extra layer of protection for online credit and debit card transactions. It is designed to prevent fraudulent transactions by requiring cardholders to verify their identity before making an online purchase. 3D-secure is becoming increasingly important for virtual card trust, especially as the use of virtual cards and other forms of digital payments continue to grow. In this article, we will discuss what 3D-secure is, why it is important for virtual card trust, and how it works.
What is 3D-secure?
3D-secure is a security protocol that was developed by Visa and Mastercard to provide an extra layer of protection for online credit and debit card transactions. The protocol was initially launched in 2001 and was known as "Verified by Visa" and "Mastercard SecureCode". Over time, this protocol has been enhanced and renamed to 3D-secure. 3D-secure protocol is now used by a number of other payment networks and is considered to be the industry standard for online card security.
Why is 3D-secure important for virtual card trust?
Virtual cards, also known as virtual payment cards or crypto cards, are becoming increasingly popular as a method of payment for media buying and other online transactions. Virtual cards offer a number of advantages over traditional credit and debit cards, including increased security, greater flexibility, and lower costs. However, there is still a risk of fraud associated with virtual card transactions, which is why 3D-secure is becoming increasingly important for virtual card trust.
How does 3D-secure work?
When a cardholder makes a purchase, the merchant will send a request to the card issuer to verify the cardholder's identity. If the card issuer is participating in 3D-secure, the cardholder will be redirected to a secure page where they will be asked to enter a password or a one-time code that was sent to their mobile phone. The card issuer will then verify the identity of the cardholder and either approve or decline the transaction.
If the transaction is approved, the cardholder will be redirected back to the merchant's website and the purchase will be completed. If the transaction is declined, the cardholder will be prompted to try again or to contact the card issuer for assistance.
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