Isbank (Turkiye Is Bankasi) has become the first bank in Europe to move to EMV 3D Secure 2.0, the current version of the 3D Secure (three-domain security) authentication infrastructure that allows cardholders to be verified in online card purchases.
Yalcin Sezen, Deputy General Manager of Isbank, said they have offered the 3D Secure infrastructure, one of the key components of e-commerce, to their customers for many years, and added: “With the new implementation, we aim to complete transactions quickly at the cardholder authentication stage, make shopping easy to finish, and deliver a better customer experience in all online shopping, mobile in particular. With this new development, we have paved the way for our cardholders to shop more easily and securely in e-commerce, an area to which we attach special importance as a bank. The step we have taken today by moving our VISA-branded cards to 3D Secure 2.0 will gain much greater meaning as 3D 2.0 becomes widespread on the merchant side in the coming period. We will continue to combine current technologies with our own line of business and work to create value and make life easier for our customers.”
Merve Tezel, General Manager of Visa Turkey, stating that the 3D Secure 2.0 infrastructure will deliver an advanced customer experience compatible with all devices in online shopping, said: “The 3D Secure 2.0 infrastructure will allow Isbank cardholders to carry out their e-commerce transactions even more securely, while greatly simplifying the payment experience with an improved customer experience across all channels. We are delighted that the first Visa member in Europe to move to 3D Secure 2.0 is a Turkish bank. I congratulate Isbank on its achievements in this area.”
What advantages does 3D Secure 2.0 offer?
3D Secure 2.0 supports faster transactions on all devices. It carries 10 times more data. This increases transaction security and speeds up identity verification. By supporting additional data during transactions, decisions can be made on whether or not to perform authentication, and the transaction can proceed.
With more information about the cardholder, the issuer will be able to assess the risk of the transaction, and if it considers the transaction risky, it will request authentication. If it finds the transaction not risky or low risk, it will approve it without requesting any extra authentication. Authentication will not be limited to a password; biometric verification will also be possible. This advanced authentication is very important for the security of the consumer, the issuer and the merchant alike. 3D Secure 2.0 is not only browser-based. In-app, mobile and digital wallet payment methods will now be possible.
Overall, 3D Secure 2.0 takes into account additional payment channels whose popularity is growing rapidly. Compared with 3D Secure, it offers smarter, more advanced security methods and higher performance.
