Get ready for more identity verification when shopping online


Since the early days of ecommerce we have seen identity verification grow and adapt to decrease fraud. Two-factor verification is one security measure that many companies are using to protect people online but according to The Guardian, from Monday new SCA requirements will mean more card purchases will require further verification from consumers.

Mastercard state that from Monday they expect that 25% of online transactions will need two-factor verification, compared to the current 1%. These changes will mainly affect payments at a higher risk of fraud and the lower risk ones, such as low cost, inside normal spending habits and subscription purchases are less likely to prompt the extra checks.

Of course keeping consumers safe online is a huge priority but will there come a point when identity verification become so tedious that it causes a negative impact on ecommerce and business? Most modern consumers crave convenience and everything is a game of “how quick can I do this?” If a consumer is being asked to provide ID or confirm codes on their phones every time they need to make a purchase online is convenience facing a push back? Barclaycard found that even before these changes a large amount of transactions were being declined and now with even more chance of being declined, businesses could face a negative impact.

With this news, it’s likely that your customers will be facing more security checks if they pay by card. Offering consumers more payment options and fast checkout services are an important step in ensuring as much convenience as possible which will then translate into sales.

One Response

  1. Hi Lauren,

    As far as I am concerned, the more security checks the better.

    Which is most inconvenient:-

    1) Having to complete a couple of extra, quick checks.

    2) Taking time out of your day to source what you need on the High Street or at the local retail park?

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