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- Galileo Launches 3D Secure to Combat Rising Card-Not-Present Fraud
Galileo Launches 3D Secure to Combat Rising Card-Not-Present Fraud
Slice of Finance Team
29 Jul
Key Highlights:
Enhanced Fraud Protection: Dynamic risk rules for each transaction.
Chargeback Liability Shift: Liability moves to card issuer for authenticated payments.
Advanced Risk Management: Access to enriched fraud intelligence via Galileo’s data consortium.
Self-Service Tool: Manage security rules, analyze data, and generate reports.
Real-Time Data and Trend Analysis: Comprehensive analytics for proactive risk management.
Source (Business Wire)
Notable Quote:
“With CNP fraud on the rise, the benefits of 3D Secure extend far beyond payment security—it's about empowering our clients across industries to proactively manage risk while ensuring a seamless customer experience in an efficient, secure payment environment. This enhancement demonstrates our commitment to building global products at the forefront of financial technology and security.”
Our Take:
The launch of Galileo 3D Secure is a significant advancement in the fight against card-not-present fraud, which is projected to surge in the coming years. By incorporating dynamic risk assessment and robust authentication mechanisms, Galileo not only mitigates fraud risks but also shifts chargeback liabilities, offering substantial protection to businesses. The comprehensive self-service tool and real-time analytics further empower clients to fine-tune their security measures proactively, making this a valuable addition to any financial technology arsenal. This innovation is poised to enhance trust and security in digital transactions, crucial as e-commerce continues to grow exponentially.