Worldpay, a global payments technology company based in the UK, has expanded its collaboration with Visa to enhance its 3D Secure (3DS) solution, aiming to help merchants in the US reduce fraud without compromising the customer experience.

Through the use of Worldpay’s 3DS Flex, merchants can pass authentication data to card issuers, improving payment security and authorisation rates while minimising unnecessary friction at checkout.

“Fraud mitigation isn’t just an on or off switch; rather, it’s a balance that requires merchants to understand how security, authentication, authorisation, fraud detection and the impact on the shopping experience work in harmony with one another,”

said Cindy Turner, Chief Product Officer at Worldpay.

“For example, false positive declines of good faith purchases and additional steps in the checkout process present serious challenges to fraud mitigation strategies. This is why we partner with card networks like Visa to enhance authorisations, at the end of the day, it helps merchants achieve the highest standards of security while improving the overall customer experience.”

According to Worldpay, more than half (55%) of US consumers abandon a transaction if it requires multiple attempts to complete, underlining the need for valid payments to be successfully processed on the first try.

3DS Flex aims to improve authorisation rates and reduce the need for extra authentication steps, while maintaining a high level of security.

Featured image credit: Edited by Fintech News America, based on image by ketyura via Freepik