iVeri has an agreement with CyberSource to provide their 3D Secure services to Acquirers which has been pre-integrated into iVeri’s products to ensure minimal complications for merchants. This agreement also provides their Fraud Management services in an aggregated form, which allows SME’s to benefit from these world leading services.
3-D Secure adds an authentication step for online payments. This allows for the cardholder to authenticate the transaction with a PIN
The basic concept of the protocol is to tie the financial authorization process with an online authentication. This authentication is based on a three domain model (hence the 3-D in the name). The three domains are:
- Acquirer Domain (the merchant and the bank to which money is being paid).
- Issuer Domain (the bank which issued the card being used).
- Interoperability Domain (the infrastructure provided by the card scheme, credit, debit, prepaid or other type of finance card, to support the 3-D Secure protocol). Interoperability Domain includes the internet, MPI, ACS and other software providers
iVeri will register a participating merchant into the 3D secure program through capture forms dully filled and submitted by the acquirer. Once this is done, the merchant is issued with a unique 3D Secure Merchant ID which is maintained in the Payment Gateway or merchant’s domain depending on the product the merchant is using. The same ID is passed on to the relevant card association for registration.
The functionality within Decision Manger (DM) can be broadly described by using the concept of the four dimensions (4D) of validation, with each dimension of validation providing functionality to help spot suspicious behaviour.
CyberSource fraud reports show that merchants who use detectors across the four dimensions tend to see detection rates that are twice as better than those who don’t.