American Marconi Wireless News - SecurePay(TM) Gateway, a Product of OLB Group, Launches 3D Secure (3DS) Access Control to Enhance Security for Card-Not-Present (CNP) Debit and Credit Card Fraud

Key features of SecurePay's 3D Secure solution:

• Enhanced Fraud Prevention: OLB's 3DS gateway minimizes the likelihood of fraudulent transactions by implementing real-time authentication protocols.

• Enhanced Customer Trust: By providing an additional layer of security, customers feel more assured about their online transactions, which may result in higher conversion rates.

• Liability Shift: Using 3DS shifts the liability for fraudulent transactions from merchants to card issuers.

• Enhanced fraud protection with dynamic risk rules

• Responsibility for chargeback liabilities transitions from businesses to card issuers for authenticated transactions.

• Global Acceptance: OLB's 3DS gateway is compatible with major card providers globally, ensuring secure international transactions.

• Regulatory Compliance: The system ensures adherence to industry standards like PCI DSS, meeting legal and financial regulations.

• Seamless Integration: Facilitates easy implementation with current e-commerce platforms, thereby reducing any potential disruptions to the user experience.

• Integration with SecurePay's Ecosystem: As part of OLB Financial Technologies, the 3DS solution provides integration with other SecurePay products and services.

• By using this advanced 3D Secure gateway, OLB ensures a safe, efficient, and trustworthy online shopping environment for both merchants and customers.

• Mobile Optimization: Supports modern, user-friendly authentication methods for a smooth mobile shopping experience.

3D Secure (3DS) is a global authentication protocol designed to add an extra layer of security to online credit and debit card transactions. Originally developed by Visa and Mastercard, it is now used by major card networks to reduce fraud and enhance the safety of eCommerce payments.

The "3D" in 3D Secure stands for "three domains," which are involved in each transaction:

1. The merchant/acquirer domain

2. The issuer domain

3. The interoperability domain (managed by payment systems like Visa or Mastercard)

When 3D Secure is enabled, it typically works as follows:

1. The cardholder initiates an online purchase.

2. The merchant's website redirects the customer to their bank's 3D Secure page.

3. The customer provides additional authentication, such as a password, SMS code, or biometric verification.

4. If authentication is successful, the transaction is completed.

This process adds an extra step to verify the cardholder's identity, helping to prevent unauthorized transactions and reduce fraud for both customers and merchants

Benefits of 3D Secure

1. Enhanced security: Provides an additional layer of protection against fraudulent online transactions

2. Liability shift: In many cases, 3D Secure can shift the liability for fraudulent chargebacks from the merchant to the card issuer

3. Compliance: It helps merchants comply with Strong Customer Authentication (SCA) requirements under regulations like PSD2 in the European Economic Area.

3D Secure is widely adopted by major credit card companies and is known by various names, such as "Verified by Visa," "Mastercard SecureCode," and "American Express SafeKey".

Advantages of 3DS for OLB Group and its subsidiaries

For Bodega owners and the merchant services we offer to customers, the most beneficial products are the Moola Cloud brands, such as Black011.com and The BlackWireless. These services are particularly advantageous for digital downloads and eSIMs, which have often been associated with fraudulent transactions on digital product orders. Moola Cloud offers an innovative and proprietary solution for the unbanked and under banked consumer sector serviced by bodegas and convenience stores in the region. With a scheduled market launch in the First Quarter of 2025, OLB Group will dramatically expand its merchant services offerings.

About OLB Group, Inc.

The OLB Group, Inc. is a diversified Fintech eCommerce merchant services provider and Bitcoin mining enterprise. The Company's eCommerce platform delivers cloud-based merchant services for a comprehensive digital commerce solution to merchants in all 50 states. In addition, through its ownership of the MOOLA Cloud and Black 011 platform, OLB Group can provide its services to an additional network of 31,600 convenient stores and bodegas in the United States. DMint, a wholly owned subsidiary of OLB Group, is engaged in the mining of Bitcoin in a facility in Tennessee utilizing sustainable hydroelectric and solar power.

Contacts
OLB Group Investor Relations
Rick Lutz
[email protected]
(212) 278-0900 Ext. 333

SOURCE: The OLB Group, Inc.

View the original press release on ACCESS Newswire

M.Fischer--AMWN