Nearly a quarter of online card payments subject to 3D Secure checks are abandoned during checkout, researchers have claimed, prompting concerns about the impact of incoming strong authentication rules in Europe.
Ravelin, a London-based fraud detection firm, analysed millions of transactions between February and March this year in eight European countries — the UK, Ireland, Germany, France, Spain, Italy, Denmark and Sweden — as well as the United States and Australia.
It found that 22 percent of transactions subject to 3D Secure, a protocol developed by the major card networks that typically involves inputting characters from a password, do not make it to completion.
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