Wednesday, November 29, 2023

CNP Fraud and the Role of 3-D Secure: The Tale of Different Countries


Guest Speakers:

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Merchants and FIs are united in their goal to get as many cardholders across the CNP finish line as possible while minimizing fraud risk. The “how” of this is the difficult part.
During the session, Datos Insights Chief Insights Officer Julie Conroy and Outseer CMO Scott Olsen interactive discussed the latest insights on successful strategies and best practices on how card issuers are maximizing their opportunities to provide stellar CNP experiences to their cardholders while effectively managing their fraud risk. The session will also discuss the evolving regulatory environment.
Key insights:
  • Authorization rates are higher and fraud rates are lower in countries where the majority of CNP traffic invokes 3-D Secure.
  • There is still significant room for improvement in the usage of enhanced data fields in 3DS 2.x.
  • Many issuers are actively migrating to more secure and user-friendly authenticators, such as biometrics and mobile app push.
  • Other jurisdictions, such as Australia, are poised to follow the EU’s lead in mandating strong customer authentication for CNP transactions.