What is 3D secure?
In broad terms, 3D Secure is a fraud prevention scheme that adds an extra authentication step for online payments.
As far as companies are concerned, at a fundamental level, 3D Secure offers liability cover for transactions, lowering chargeback ratios and providing additional protection against fraud and money-laundering schemes.
Visa was the first card provider to implement the protocol, with the intention of improving online-payment security. 3D Secure is now offered to Visa customers under the name “Verified by Visa.” MasterCard SecureCode is another implementation of the same 3D Secure protocol.
What is PCI DSS?
The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure a secure payment environment. The PCI DSS applies to any company, regardless of size or number of transactions, that accepts, transmits, or stores any cardholder data.
The Payment Card Industry Security Standards Council (PCI SSC) is the official regulatory institution that enforces the best-practice guidelines for securing e-commerce and PCI compliance.
xMoney is a PCI-DSS Level 1 Payment Service Provider. You are in good hands.
Do I Need to Be PCI DSS Compliant?
The short answer is YES. Every merchant that accepts online credit-card payments is required to be PCI-DSS compliant.
Even though xMoney will be in charge of collecting, processing, and storing encrypted cardholder data, you must still complete a few PCI-DSS compliance measures.
The great news is that, for an annual online transaction volume that does not exceed 6 million transactions, you can ensure compliance by filling out a simple self-assessment questionnaire (SAQ), and allowing Twispay to handle everything else.