Cart abandonment is one of the biggest concerns for e-commerce merchants today. They are, after all, operating in a space where the customer holds the power to fill their shopping basket to the brim only to discard it at checkout if anything about the process doesn’t appeal them. Too many fields to fill in? Too many security measures? Too few security measures? That’s it, end of shopping story. In the age of the customer, there is no compromise. Merchants have to offer the whole checkout package – speed, convenience, security – if they want to maximize conversion from browsing to purchase.
Onerous security measures like special hardware tokens scare customers off, but according to the American Express 2017 Digital Payments Survey, 37% of shoppers abandon online purchases when they do not feel secure, so merchants also cannot get away with no measures at all. To address this gap, major players like Visa, Mastercard, and American Express have adopted the 3-D Secure protocol, an SSL-based communication technology that requests transaction authorisation from the shopper, usually through the entering of a one-time password (OTP), before a purchase is completed. 3-D Secure is intended to provide additional security for digital transactions, but due to its poor user experience it has yet to be embraced widely. What, then, is the answer?
Merchants are increasingly turning to push-based customer authentication solutions like ours, which combine security and convenience in equal measure. A single tap to continue with (or cancel) the purchase completes the transaction, and digital certificate technology records it to facilitate nonrepudiation.
What is more, our 3-D Secure offering is cleverly integrated with a number of other mobile payments solutions, enabling merchants to switch on Masterpass, Visa tap-to-pay, QR code scan-to-pay, and more, with little additional effort. It also features an access control server (ACS), which means that there’s no need for the merchant to obtain this through a third-party provider. Quick to deploy and compliant with EMV 3-D Secure, it's the right authentication solution for merchants wanting to maximize ease of use and customer control for reduced cart abandonment.
Entersekt is leading the way in 3-D Secure, with a robust solution that offers a uniquely unified view of both 3-D Secure versions, effective risk-based authentication, and low-friction step-up for high-risk transactions. Read more about our 3-D Secure solution.
