With EMV liability shifts occurring in the United States come next October, the need to understand the value and set expectations for implementing Consumer Authentication has never been more timely.
Sarasota, Florida (PRWEB) October 16, 2014
In effort to continue last year’s success and identify the latest trends and experiences from organizations utilizing Consumer Authentication programs, The Fraud Practice and CardinalCommerce are pleased to announce that the 2nd Annual Consumer Authentication Survey is now underway. The survey is open and we will be collecting results over the next five weeks, with two drawings to win a new Bose SoundLink® Bluetooth® Speaker III held each week.
Now only one year away from a liability shift that will encourage payment industry players in the United States to adopt more secure EMV card payments at the physical point-of-sale, understanding the implementation options and benefits of Consumer Authentication programs becomes even more important. While EMV and Chip & PIN cards have proven effective in combatting counterfeit card fraud at the point-of-sale, they have also led to a shift in more fraud to the Card Not Present (CNP) channel. It is no coincidence that the adoption of Verified by Visa, MasterCard SecureCode and other Consumer Authentication programs increased in many countries following the EMV migration and burgeoning online fraud losses.
Organizations in the United States should already be preparing for an increase in CNP channel fraud attempts that are expected as EMV phases out traditional mag-stripe cards. All merchants should consider the risk management techniques they are utilizing today and consider how to build and improve on existing risk strategies to prepare for this eventuality. The 2nd Annual Consumer Authentication Survey and Report will once again be a valuable resource for any organization considering or currently supporting these programs, to gain a better understanding of how they are implemented and where they provide value.
The inaugural Consumer Authentication Survey and Report provided many valuable points and perspectives on how organizations implement or support Consumer Authentication programs like Verified by Visa and MasterCard SecureCode today. CardinalCommerce and The Fraud Practice are looking to provide an even more comprehensive picture of how various types of organizations use or implement Consumer Authentication, where they see value, and observing how perspectives and the use of these programs are changing. The 2nd installment of this survey and report will provide new and longitudinal results offering payment and risk industry professionals insight on the effective uses, implementations and benefits of Consumer Authentication programs.
The inaugural Consumer Authentication Survey and Report benefitted many organizations and professionals in the payments and risk industries with perspectives on different implementation and presentment options for Consumer Authentication programs like Verified by Visa and Master SecureCode. This included how these programs have affected sales, fraud losses and the user experience, as well as many other important findings based on the experience and responses of merchants, service providers and card issuers that use or support Consumer Authentication.
Be sure to take this year’s Consumer Authentication Survey, whether you currently use it or not, so your industry experience and perspectives can be taken into account. All who complete this short survey will be entered in drawings to win one of ten Bose SoundLink® Bluetooth® Speakers and will receive an advance copy of the Consumer Authentication Survey Report.
You only need to take the survey once and your entry will be entered in up to ten drawings (two per week) for the Bose SoundLink® Bluetooth® Speaker. If you complete the survey and your entry does not win, it will automatically be included in each of the next drawings as only the winning entries are removed. The sooner you take the survey, the better your chances of winning.
About The Fraud Practice
The Fraud Practice is a privately held US LLC based in Sarasota, Florida. The Fraud Practice provides consulting services on eCommerce payments, fraud prevention, and credit granting as well as prepared research and training for payment and fraud professionals. Businesses throughout the world rely on The Fraud Practice to help them build and manage their payment, fraud, and risk prevention strategies.