SecureBuy offers 3D-Secure free to all online merchants
by
Adil Siddiqui
SecureBuy, a global leader in payment fraud prevention and security solutions, has announced today that they will begin to provide their 3D-Secure MPI, free of charge to all online merchants. The SecureBuy 2.0, 3-D Secure® MPI will be made available with a 10 year royalty-free license.
According to a press release published earlier today by SecureBuy, the new offering is to counteract the expected rise in US-based online fraud when EMV technology is implemented. SecureBuy states that if and when EMV transaction is made available to US cardholders, there will be an expected increase of 30%-60% in fraudulent online transactions.
3D-Secure technology does not only help with enhancing security by verifying cardholder data, but also shifts liability to the issuing bank if the transaction is ever disputed or charged back. Note that the liability shift, which is a very good thing, only applies to the so called "friendly fraud", when the end-user pretends he did not do the transaction. The other reason codes like "product not as described" are not covered under the liability shift provided by the 3D-secure technology. With the expected increase in fraud that the EMV transactions could bring, we can see that SecureBuy is offering something they believe should not be optional for online merchants, but compulsory for all gateways and processors who process Payments online.
“Merchants spend millions of dollars every year for the right to use the 3-D Secure MPI in an effort to reduce card not present (CNP) fraud. SecureBuy is stepping up to the plate and offering its SecureBuy 2.0, 3-D Secure technology free of charge in an effort to reduce global payment fraud and stabilize online and mobile commerce for the benefit of the entire ecosystem. I hope other major players in the industry follow our lead, as we all have a responsibility to do what we can to minimize the risks associated with payment fraud," stated Greg Wooten, CEO of SecureBuy.
With SecureBuy’s new offering, it will be interesting to see which other companies will also be offering their MPIs free of charge, or at a reduced price. SecureBuy is showing us that online security and fraud protection should not be an optional add-on, or a security feature to consider, but something that should be made available to all online merchants in order to bring down fraud on a global scale, and not on a corporate one.
SecureBuy, a global leader in payment fraud prevention and security solutions, has announced today that they will begin to provide their 3D-Secure MPI, free of charge to all online merchants. The SecureBuy 2.0, 3-D Secure® MPI will be made available with a 10 year royalty-free license.
According to a press release published earlier today by SecureBuy, the new offering is to counteract the expected rise in US-based online fraud when EMV technology is implemented. SecureBuy states that if and when EMV transaction is made available to US cardholders, there will be an expected increase of 30%-60% in fraudulent online transactions.
3D-Secure technology does not only help with enhancing security by verifying cardholder data, but also shifts liability to the issuing bank if the transaction is ever disputed or charged back. Note that the liability shift, which is a very good thing, only applies to the so called "friendly fraud", when the end-user pretends he did not do the transaction. The other reason codes like "product not as described" are not covered under the liability shift provided by the 3D-secure technology. With the expected increase in fraud that the EMV transactions could bring, we can see that SecureBuy is offering something they believe should not be optional for online merchants, but compulsory for all gateways and processors who process Payments online.
“Merchants spend millions of dollars every year for the right to use the 3-D Secure MPI in an effort to reduce card not present (CNP) fraud. SecureBuy is stepping up to the plate and offering its SecureBuy 2.0, 3-D Secure technology free of charge in an effort to reduce global payment fraud and stabilize online and mobile commerce for the benefit of the entire ecosystem. I hope other major players in the industry follow our lead, as we all have a responsibility to do what we can to minimize the risks associated with payment fraud," stated Greg Wooten, CEO of SecureBuy.
With SecureBuy’s new offering, it will be interesting to see which other companies will also be offering their MPIs free of charge, or at a reduced price. SecureBuy is showing us that online security and fraud protection should not be an optional add-on, or a security feature to consider, but something that should be made available to all online merchants in order to bring down fraud on a global scale, and not on a corporate one.
Mastercard and Checkout.com Collaborate to Transform Online Travel Payment
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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