In 2015, MasterCard and Visa will remove the 3D Secure on payment cards and replace them with the ‘next-generation’ systems based on biometrics and token-based prompts.
Ajay Bhalla, President of Enterprise Security Solutions at MasterCard explained, “All of us want a payment experience that is safe as well as simple, not one or the other. We want to identify people for who they are, not what they remember. We have too many passwords to remember and this creates extra problems for consumers and businesses.”
With the new standard, security infrastructure will move beyond the PC era and would start supporting emerging technologies and changing consumer needs. The 3D secure is clearly not a popular security measure for many shoppers as most would likely go for the cash payment method rather than fill out password boxes on tiny screens or remember the names of pets or extended relations.
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This article was first published on 22nd November 2014 and updated on November 24th, 2014 at 10:56 am