Although the 3DS v1 security protocol can be used until 2022, e-merchants should migrate to 3DS v2 as a matter of urgency in order to comply with PSD2 (Payment Services Directive 2). But how can you make this migration a success? We give you our top tips for a smooth migration.
Organise the migration phase
Migration to 3DS v2 is a key step. Schedule a meeting with your Payment Service Provider to establish your migration strategy and draw up a timetable.
You should carefully prepare your strong authentication exemption requests. These exemptions will allow you to offer frictionless transactions to ensure a smooth user experience at the time of payment. As a merchant, Transaction Risk Analyses allow you to request these exemptions for your customers from the issuer, based on the probability of chargebacks. This is a major advantage as it lowers the risk of an abandoned shopping cart.
Certain parameters need to be set up when sending payment flows in order to automate the submission of data to the issuer. You should therefore start by identifying the possible fields to be added to your payment requests to help ensure frictionless transactions. These additional parameters should ideally be tested in a Sandbox* environment before going live.
Manage your operations
Once your migration is complete, it is important to step up the monitoring of your performance indicators to control the impact of PSD2 on your business (and adapt the parameters if necessary). KPIs such as your acceptance rate trends, percentage of “soft declines” and “frictionless” transactions, and analyses of your fraud rate (chargebacks) are all good indicators.
Practical Guide to PSD2 Migration
*sandbox: test environment