You may have noticed an increase in declined credit and debit card transactions towards the end of January. This is due to a new rule from our cards processing partner that only allows us to accept payments from cards that support 3D Secure. For context, 3D Secure is the safety feature that authenticates online transactions through Verified by Visa or Mastercard SecureCode. For your customers, this protocol typically requires them to input a one-time password (OTP) that is sent to their mobile phones so that they may confirm a purchase.
We'd like to assure you that this rule was only implemented by our acquirer to protect you and your customers from risky or fraudulent card transactions. We believe that your security should not come at the cost of your cashflow, and it is always our priority to maximize both of these for our merchants.
However, we are aware that this security feature has also caused so much inconvenience for you and your customers. As such, we're currently looking for ways to reduce the decline rate while keeping your payments system safe.
In the meantime, we would like to ask you to advise your customers to use cards that support 3D Secure. If they are experiencing problems with approvals of their payments, we would advise them to contact their issuing banks to have their cards updated.
Again, we apologize for any inconvenience this has caused you. If you would like to talk to us further regarding the new protocol, please feel free to contact us through [email protected] and we'll be glad to assist you.