Paytm Payment Services Introduces EMV 3DS Upgrade For Visa Cards EMV 3DS is the latest security protocol to seamlessly authenticate consumers and safeguard against card-not-present (CNP) fraud
By Teena Jose
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One97 Communications Limited, parent company Paytm, a payments and financial services company has announced that its wholly-owned subsidiary Paytm Payment Services Limited has introduced EMV 3DS upgrades for Visa cards.
EMV 3DS is the latest security protocol to seamlessly authenticate consumers and safeguard against card-not-present (CNP) fraud.
"We continue to bring industry-first innovative payment solutions for our merchant partners and users. With EMV 3DS compliance in record time for Visa, we have ensured that our existing merchants are ready for the upcoming festive season without worrying about upgrading integration or spending extra for tech bandwidth. With this, we continue to drive a global standard for seamless and safe card transactions," said the spokesperson of Paytm Payments Services.
Paytm Payment Gateway's EMV 3DS upgrade has been developed in-house for the company's existing online merchants to seamlessly migrate to the new protocol without any additional efforts from their end. The company claims that it provides better authentication rate, greater security, reduces false declines and offers 10 times data exchanged with the issuer which reduces frauds as well.
Paytm Payment gateway is offered by Paytm Payments Services Limited, which is a wholly-owned subsidiary of Paytm. The platform gives businesses of all sizes access to the same world class Payments Infrastructure that powers the Paytm app.
"We congratulate Paytm Payment Gateway on its successful transition to the new EMV 3DS standards. We believe this enhanced EMVCo ® protocol will augment the security of the online commerce ecosystem, ensuring safer and more efficient transactions for Visa cardholders and merchants. We are happy to have partnered with Paytm on this journey to provide superior transaction experiences to their customers," said Rishi Chhabra, Head - Merchant Sales & Acquiring, Visa India and South Asia.
