E-commerce
E-commerce refers to the buying and selling of goods and services over the internet. It encompasses various online business models, including B2C, B2B, and C2C (consumer-to-consumer). E-commerce encompasses online transactions for goods or services, relying on secure payment gateways and fraud detection systems.
Applications
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
Advantages
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
Challenges
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
