TSYS (NYSE: TSS)
today announced the release of a white paper titled
“EMV is Not Enough: Considerations for Implementing 3D Secure.”
considers the impending U.S. migration to Europay, MasterCard, and Visa (EMV) chip to combat fraud, but concludes that there are additional steps issuers must consider to mitigate fraud risk.
This report concludes that there are clear lessons to be learned in the U.S. from the UK’s introduction of EMV — and the resulting rise in card-not-present fraud. The paper discusses how the increase in card-not-present fraud coupled with the growth of e-commerce should lead issuers to consider deploying a risk-based authentication on the 3D Secure protocol. 3D Secure, the paper indicates, is a robust and effective method for providing information to issuers and online merchants to combat fraud while simultaneously providing a smooth and interruption-free shopping experience to cardholders.
“The introduction of EMV in the U.S. will go some way to reducing fraudulent transactions, particularly in the card-present space,” said Jonathan Hancock, director of fraud management at TSYS. “However, fraudsters are constantly striving to stay one step ahead, and with the growth in e-commerce transactions, implementing 3D Secure can reduce losses resulting from fraudulent card-not-present activities.”
The paper outlines the benefits of using EMV and 3D Secure together, including greater fraud protection for all stakeholders — card issuers, merchants and consumers. It ultimately concludes that while fraudsters’ methods will continue to evolve, these two solutions deployed together offer the strongest protection available for reducing card fraud.
The white paper is available online at:
At TSYS, (NYSE: TSS), we believe payments should revolve around people — not the other way around. We call this belief "People-Centered Payments
." By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend, a TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, and has been named one of the 2013 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website. For more please visit us at