PayU launches 3DS 2.0 SDK authentication service – Times of India
Most card networks including Visa and Mastercard are geared to phase out older authentication systems and will be moving to 3DS 2.0 in India by October 2023. With a simple integration, PayU merchants and acquirers can be compliant with the 3DS 2.0 mandate. This light weight solution allows merchants to control user experience, offers the highest coverage across banks and card networks and unlocks frictionless, biometric capabilities.
Manas Mishra, Chief Product Officer, PayU payments said “This product is part of our ongoing commitment to offering a faster and safer digital payments infrastructure for our merchants. With this, we are helping businesses provide customers best in class user experience, and better success rates while supporting security authentication for all card use cases.”
This move is in line with PayU’s commitment to elevating its own security infrastructure and identifying ways to offer a safe digital payments infrastructure to the merchant community in India. Financial fraud in Indian banking amounted to Rs 6,500 crore last year. Globally, 3DS 2.0 authentication has shown a 57% Fraud reduction and a 70% reduction in abandonment and is built for multiple devices and screen sizes, unlike earlier variants which were built only for computers.
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