1. What is it?
3D Secure is an additional security layer designed to protect both customers and retailers during online card transactions. It stands for the 3 parties involved in the 3D Secure process:
- The retailer (online merchant)
- The retailer's bank
- The card issuer (your bank)
When a customer is paying for a product online by card, they can be required to complete 3D Secure. This process is handled differently by card issuers, so we cannot fully describe it. However, it usually involves logging in to the netbank or entering a one-time code.
Once 3D Secure has been completed and the payment has been approved by the card issuer, the customer will be directed back to the online merchant's website and receive confirmation that the purchase has been processed successfully.
2. Why use it?
For merchants, this means less chargebacks and disputes to settle with customers. For customers, having 3D Secure enabled creates an additional layer of security when making online purchases.
In a 3D Secure card transaction, the liability for the purchase is transferred from the retailer to the card provider. Hence, if a customer claims that he did not authorise the transaction, the card provider is responsible for returning the funds charged.
Accordingly, businesses that require 3D Secure verification before processing payments should be considered more trustworthy and safe.
All Coinify card transactions require 3D Secure to be completed.