The Transaction Security Landscape: New Mandates, New Challenges

By Ilya Dubinsky, Head of the CTO at Credorax

As consumer adoption of mobile and online commerce channels continues to grow, fraud losses in this space are becoming a major pain point for mature markets. To address this security challenge, Strong Customer Authentication will become mandatory in the European Union. However, even without regulatory mandates, the problem is significant enough for providers to take proactive steps to improve transaction security.  The market trends to monitor will encompass security,stronger customer authentication, PSD2,3D Secure 2.0, card-not-present fraud, mobile experience issues, and shopping cart abandonment concerns.  To give some context around these trends, it is beneficial to review each area with regards to how fraud has had an impact.

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