Ever since PSD2 SCA compliance has become mandatory for payment service providers, they are actively looking for robust solutions to improve the customer authentication processes and reduce online payment frauds in the European Economic Area (EEA). Since Strong Customer Authentication (SCA) is the new requirement of the PSD2, all it focuses on is adding additional security measures to the digital payments. So, if you are an eCommerce business owner who wants to draw more visitors to your site and boost conversions, it is necessary to provide your users with a safe and secure platform to complete their purchases. That’s where the need to hire the best SCA optimizing company in the US comes into the picture.
Now let’s see what measures you can take to enhance the product checkout experience of your customers:
Table of Contents
- 1. Create a seamless experience using industry standards
- 2. Use monitoring to optimize the most efficient payment processors
- 3. Find partners with extensive banking relationships
- 4. Offer e-Wallet payment methods
- 5. Implement tried and trusted strategies
- 6. Build-out mobile capabilities
- 7. Make the most of the data
- The End Note
1. Create a seamless experience using industry standards
The first thing you can do is integrate 3D Secure 2 in your core payment system to enable your eCommerce site to fulfill the needed SCA requirements. Once you have achieved PSD2 SCA compliance, it would be easy for your customers to complete the payment smoothly while saving time and other resources.
Since myriads of businesses rely on online transactions these days, it is vital for yours too to make the most of this new, standardized technology and improve your checkout process without compromising customer security.
2. Use monitoring to optimize the most efficient payment processors
The second technique you can apply is to monitor your payment authorization rates closely and check if any inconsistency is there in the whole process. Once you find that a particular payment method is performing well on your eCommerce site, you can recommend all your potential customers to use the same for their product purchase.
However, this could be a hard row to hoe when it comes to doing it single-handedly. So, you can collaborate with a safe payment solution provider out there.
3. Find partners with extensive banking relationships
Apart from striving for PSD2 SCA compliance, what else you can do is ensure maximum authorizations and conversions during payment processing. For that, you can check if a specific financial organization prioritizes low-risk transactions for exemption.
It will help your potential customers leverage quick and smooth payment processing and experience a fantastic product purchasing journey.
4. Offer e-Wallet payment methods
To take the checkout experience of your users to the next level, you can also offer them e-Wallet payment methods, including Apple Pay, Google Pay, PayPal, and many more. The reason? The two-factor authentication system is already part of their payment processing system.
Thus, the moment you provide your customers with such options, it will become one of the main differentiators of your eCommerce site. If that’s not all, you can also offer them discounts or cashback to use these payment methods.
5. Implement tried and trusted strategies
Do you know about a handy thing you can do on your part for fraud protection? You can ask your consumers to select your shopping site as “trusted”, resulting in the exemption from the SCA requirements. It will contribute to a seamless customer experience for the users coming to your eCommerce site.
Since plenty of online merchants are currently going through a challenging phase, every purchase is instrumental in that case. So, you can always tie up with a secure payment solution provider that utilizes the global 3D Secure 2 solutions.
6. Build-out mobile capabilities
If you have been in the eCommerce business for a long time, you know well that 3DS 1.0 was not suitable for mobile payments. But when the company launched 3DS 2.0, things started to change. What? It supports mobile and tablet transactions now.
It means if you take advantage of 3DS 2.0 to its maximum potential, you can deliver an excellent mobile buying experience to your customers. This way, you can allow them to authenticate their purchase through cell-phones without a hitch.
7. Make the most of the data
As a customer-centric eCommerce website owner, what else you can do is adopt technology that doesn’t require users to enter any additional data when placing an order. Your consumers can leverage a smooth purchasing journey if that happens. And guess what? Your cart abandonment cases will also reduce.
For example, when customers pay using their debit or credit card on your shopping site, you can provide them with options to save the card details. Thus, when they visit your site the next time for another product purchase, they won’t have to enter all that card number, expiry date, and CVV again.
The End Note
We hope you have now learned how complying with PSD2 SCA will improve your customers’ checkout experience and deliver high customer satisfaction. So, if you want to comply eCommerce site with PSD2 SCA requirements, reach out to the safest payment service provider now.