NASHVILLE, Tenn. – October 4, 2016 – mSIGNIA, an EMVCo Technical Associate, today announced its 3D Secure 2.0 software development kit (SDK) which meets EMVCo’s draft specifications to make mobile payments more secure without disrupting the customer experience. mSIGNIA developed — and is currently testing — its 3DS 2.0 SDK in cooperation with an EMVCo member organization.
During last week’s EMVCo User Meeting in Shanghai, mSIGNIA CTO George Tuvell met with a number of representatives of 3DS providers, payment networks and card issuers. “Many of them saw the advantages of working with mSIGNIA over developing their own product,” said Tuvell. As a result, negotiations are underway to begin testing with several partners, including at least one other payment network.
Development of the 3DS 2.0 SDK began after the EMVCo User meeting in Copenhagen this summer. “That’s when we realized that while there are hundreds of SDK vendors, very few were ready to develop a solution that would work on mobile devices,” said Paul Miller, CEO of mSIGNIA. “mSIGNIA is grounded in mobile security and identity, we understand EMVCo’s technical specifications and we know that the only solution that will be widely adopted is one that not only reduces fraud, but also reduces the friction associated with the current 3DS protocol.”
While the current 3DS version reduces fraud for online card-not-present (CNP) transactions, it has not been widely adopted in the U.S. because related customer friction at checkout can lead to cart abandonment and lost sales. In addition, 3DS today does not support payments made via mobile device, including in-app and mobile website purchases, and digital wallets. The need to extend CNP fraud prevention to the mobile environment is critical as it has been projected that by 2020, mobile commerce will make up nearly half of total ecommerce transactions.
mSIGNIA’s 3DS 2.0 SDK is optimized for resource-constrained devices and analyzes additional data points for increased security. The SDK will enable issuers and 3D Secure providers to quickly, easily and cost-effectively integrate the mobile specifications into their own applications in time for the 2017 rollout of 3DS 2.0.