The trend is to fight fraud with advanced authentication technologies

As developed in the previous article entitled ‘Mexico hosts the most important online chargeback’, the Payment Service Directive in Europe mandates strong payment authentication, while we were writing that article, Banxico informed us about current market and collaborative initiatives.


Cryptographic keys, digital identity or biometrics are the leading mechanisms employed by stakeholders in order to develop robust authentication technologies to fight fraud and data breaches. Multi-factor authentication requiring multiple layers of defense is the way forward to mitigate cyber threats from hackers. This multi-factor authentication services market is expected to grow at a rate close to 23% from 2017 to 2021. The increasing adoption of advanced authentication techniques could be witnessed by banks in the coming years, and there could be more collaboration with FinTechs in this space providing implementation of new regulations.


3D Secure is an authentication and secure Internet payment protocol which has been developed by Visa and Mastercard. For the consumers, this system can be perceived as a constraint, leading them to drop-off the payment, so it can result with consumers renouncing to purchase. Countries such as Mexico, Brazil, Japan or the United States have the lowest adoption rates amongst merchants to implement this secure system.


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