What is Payer Authentication?
Payer authentication, also known as Verified by Visa (VbV) and MasterCard® SecureCode™, are security protocols developed by Visa and MasterCard that allow consumers to shop online more securely. Visa and MasterCard also give back to eCommerce businesses that enable these programs by providing chargeback protection and lower interchange rates. You may also hear the programs referred to as 3-D Secure. Simply put, payer authentication is validation that the online shopper is the cardholder. Merchants participating in the programs are helping to fight identity theft and consumers are thanking them by repeat shopping at these secure websites. Verified by Visa and MasterCard SecureCode are the #1 sought after fraud tool for the second year in a row.
How do Verified by Visa and MasterCard SecureCode work?
The revised checkout process is simple. It add the step of requesting the customer's PIN. Click here to see the screenshots.
VbV and SecureCode enable cardholders to create a PIN (or “secure code”) and assign it to their credit card. During checkout, the Customer is prompted to enter their PIN and the holder’s identity can then be confirmed by their Card Issuing bank. The Card Issuer provides additional data elements to confirm the cardholder’s identity. The data elements are amended to the authorization and settlement messages, thus providing the proper benefits of VbV/MCSC.
How do I get VbV and SecureCode?
Using the Cardinal Centinel plugin from Web 2 Market, your site can access Cardinal Centinel, the Universal Merchant Platform.
What are the benefits of Verified by Visa and MasterCard SecureCode?
With the programs, Visa and MasterCard aim to increase consumer confidence in online shopping and reduce fraud. To encourage 3-D Secure adoption, Visa and MasterCard
offer significant merchant benefits including:
- Fraudulent chargeback protection (per the rules of Visa and MasterCard)
- Interchange discounts averaging 20 basis points
- Dramatic reduction in the fraud screening costs and manual review
- Higher AOV (Average Order Value); secure, confident Customers spend more
- Free and automatic platform upgrades
- Expand internationally, risk-free
- Consumer brand loyalty and security
For more product detail, view the Card Payer Authentication Fact Sheet.