June 3, 2005 - (HOSTSEARCH.COM) - EuroConex have announced that Award winning hosting company Novara.ie have become their first Irish company to implement the new standard for payment processing, 3D Secure. 3D Secure is an authentication method that allows Merchants, Issuers, Acquirers and cardholders identify and authenticate themselves in the Internet world for on line card not present payments. 3D Secure is the architecture that allows a merchant to authenticate the Cardholder with the issuer and association.
"The main attraction for our company is an enhanced customer experience. So far we have had very positive feedback from our customer base on the new system, many are pleased with the increased level of security. The additional information required from clients in the new ordering process is negligible. An additional attraction is fraud minimisation. As one of Ireland's largest hosting companies the bulk of our sales are web based. As a result the attempted use of stolen cards to pay for services is an everyday issue. The 3D Secure solution offers us the prospect of diminishing fraudulent activity considerably" said Eoin Costello, managing director of Novara.ie.
Commenting on the achievement Michael Keeshan, eCommerce Product Manager, euroConex said, "euroConex are delighted to provide 3D Secure processing capability to Novara.ie. Processing payments over the Internet in a secure manner has been a cornerstone of the euroConex eCommerce strategy. By encouraging our merchants to adopt 3D Secure, euroConex decreases substantially the incidences of fraudulent transactions to the mutual benefit of all transaction participants"
What is new about this method:
After enabling the banks and merchants with 3-D Secure, the consumer will have the same shopping experience except that there will be a pop-up screen from the cardholder's bank to identify the cardholder's ownership.
