PayU Supports Payment Securing for Indian E-Commerce With 3DS2 Launch

aggregator in india Pay U We provide 3DS2 SDK for all domestic and international transactions to solve payment security and speed.

Online payment service provider PayU has launched a 3DS2 software development kit (SDK) for platform merchants to authenticate payments, in line with India’s Security Directive arriving in October 2023.

India’s e-commerce appetite is expected to be worth around $200 billion by 2026 as the market continues on a steep upward trajectory. But, as might be expected from such a valuable and large number, the opportunity for fraud to occur is just as great. Last year, financial fraud cost the Indian banking industry a loss of her 6,500 kroner.

visa created 3D Secure, also known as “three-domain secure” in 1999, to allow banks and merchants to authenticate cardholder identities with the rise of e-commerce.

The application of two-factor authentication imposed by the protocol creates an identity chain between the issuing bank, the customer and the merchant at checkout, ultimately ensuring both the speed and security of online card payments.

3D Secure was born when the computer desktop was the only way to access the digital marketplace. Since its official introduction in 2020, 3DS2 has aimed to offer enhanced functionality on all devices. It incorporates updates originally required by PSD2 and Europe’s Strong Customer Authentication (SCA) regulations.

Globally, 3DS2 certification has reduced fraud by 57% and abandoned rates by 70%.

merchant focus

Launch of PayU 3DS2 SDK Developed through the company’s collaboration with full-stack payment technology companies, the product provides merchants with a higher level of security across domestic and international transactions. Wibmo.

Commenting on this expansion, Manas MishraChief Product Officer of PayU Payments.

This helps businesses deliver best-in-class user experiences and higher success rates to their customers while supporting security authentication across all card use cases.

This announcement confirms PayU’s ongoing security infrastructure research and efforts to identify the most secure means of payment processing for Indian merchants.