This mailer was sent to our Wallee Merchants on Thursday 6 October 2022:
MailChimp Mailer below:
You are receiving this email as you are using Wallee as a platform with the Peach Payments Gateway. This mailer is to notify you that Wallee will unfortunately not be supporting the latest 3D Security Version 2.0 protocol (more on 3D Security Version 2.0 in this article)
What does this mean for you?
The Card Scheme (VISA and Mastercard) Mandated 3D Security Version (3DS) 2.0 is currently being rolled out globally in conjunction with Acquiring, Issuing Banks and Payment Gateways, including Peach Payments
3DS 2.0 offers additional fraud protection by analysing the customer’s contextual data using risk-based authentication and prompting them to verify their identity only on high-risk transactions, avoiding the need for every customer to actively authenticate.
It has been shown that 3DS 2.0 can increase conversion rates by almost 8%, reduce false declines and is overall a better checkout experience.
As more and more banks and customer cards update to the 3D Security 2.0 protocol those Merchants who do not have 3D Security 2.0 run the risk of increasing number of 3D Security related failures