Security & Risk Management
When it comes to online payments, security and risk are always a top concern. As a payment service provider (PSP), it's important to understand how to mitigate risk and ensure the safety of your customers' transactions.
One important tool in your arsenal is 3-D Secure, which adds an extra layer of security to online payments by requiring the cardholder to verify their identity through an additional step, such as entering a one-time password or using biometric authentication. By implementing 3-D Secure, you can reduce the risk of fraudulent transactions and chargebacks, while also providing a better user experience for your customers.
Overall, prioritising security and risk management is crucial for PSPs looking to provide a safe and reliable payment experience for their customers. By implementing tools like 3-D Secure and understanding the nuances of Soft Declines, you can reduce risk, improve success rates, and build trust with your users.