3D Secure Processing vs. SSL Payment Processing
Merchant account security against hackers
With the online fraud costs increasing every year, it is imperative that businesses secure themselves with premium fraud management tools. Considering this, Instabill.com offers merchants up-to-date fraud finding and protection services such as SSL payment processing and 3D secure payment processing in order to:
- Hamper online shopping experiences with fraud scams
- Maximize the number of securely accepted transactions
- Lessen businesses internal costs
3D Secure Payment Processing
Fundamentally, 3D Secure is an innovative technical standard created by Visa and MasterCard (credit and debit cards operated by Visa International and MasterCard International respectively) to secure and protect online credit card transactions and dealings. 3D secure is the architecture which permits a merchant to verify the cardholder with the issuer.
Prospective merchants looking to launch their accounts with Instabill will gain from 3D secure solutions as it provides:
- MasterCard SecureCode™ and Verified by Visa Compliance
- Decrease in fraudulent transactions and orders
- An estimated 80 % decrease in chargebacks and fraud grievances
- Offer shoppers the comfort and reassurance of secure online transactions
- Boost in sales volume through augmented shopper confidence levels
- User-friendly interface especially for credit card holders
Though the benefits of 3D secure are many, it remains a controversial subject among merchants, most of whom believe it leads to a high rate of checkout abandonment. When 3D secure was rolled out by Visa and MasterCard, and an online merchant opted for a 3D secure merchant account, it forced an online consumer to create an account with a password in order to complete the transaction. In fact, a pop-up window emerged when the consumer was in the online checkout process, requesting said password.
This caused confusion with many consumers. Primarily, consumers were put off by having to create an account; and secondly, many were confused as to for whom they were creating the account, unaware the window was making for a more secure transaction. Thus, more often than not, consumers abandoned the sale.
Expected by the end of 2017, however, is 3D secure 2.0, which is said to address the problems of its first iteration.
SSL Payment Processing
SSL is an acronym for Secure Socket Layer, an encryption and protection technology utilized in safe and secure online transactions and orders.
Instabill offers its current and potential merchants the resources for SSL credit card processing due to these long-term and highly useful benefits:
- Enhancement in online sales
- Protects sensitive personal data from hackers
- Technical support provided to merchants for use of SSL
- It is utilized not only for websites but also for intranets, extranets, e-commerce website and multiple logical servers
- Gives the customers and merchants the satisfaction and guarantee of secure hacker-free transactions
Depending on the type of business, the country where your business is located and whether you are able to include 6 months’ credit card processing history with your application Instabill will recommend the most suitable merchant account and payment gateway connection for your online business, providing you with SSL credit card processing and 3D secure system to help protect your business.
The safeguard secure sockets layer received a boost from Google, effective in 2017: The search giant announced it would begin to penalize unsecured websites — those whose prefixes began with ‘http’ instead of ‘https’ — in search ranking for not using secure sockets layers. There is a caveat, however: Many e-commerce business owners are hesitant about the update, arguing that should a merchant change his website prefix from ‘http’ to ‘https,’ will his key word rankings suffer?
From and SEO perspective, the overwhelming answer is yes. We advise consulting a search engine optimization/marketing professional to understand the risks.
3D Secure Processing vs. SSL Payment Processing: They can co-exist
When considering 3D secure processing vs. SSL payment processing, it is entirely possible and doable for merchants to employ both strategies. Instabill merchant account managers will match your business with the best banking solutions we know for your industry, which can offer several fraud prevention features.
Our merchant account managers are reachable directly at 1-800-530-2444, Monday through Friday, from 8 a.m. until 6 p.m. U.S. eastern time.