A new browser capability, Secure Payment Confirmation (SPC), has reached a standardization milestone, revolutionizing web checkout by harmonizing user authentication and streamlining payment security #payments #timetoimplement w3.org/TR/2023/CR-secure-pay…
This tweet is unavailable
1
1
3
🛒 E-commerce has witnessed significant growth in the past 15 years, with online payment fraud increasing in parallel. To combat this, multifactor authentication has been mandated in some jurisdictions. However, it often adds checkout friction, leading to cart abandonment
1
Pilots were conducted and compared to one-time passcodes (OTP), SPC authentication led to an 8% increase in conversions with a 3 times faster checkout! w3.org/blog/2021/03/secure-p…
1
🔒 SPC enhances user confidence in online transactions. It reduces friction for strong customer authentication (SCA) and provides cryptographic evidence of user consent, meeting regulatory requirements like the Payment Services Directive (PSD2) in Europe ecb.europa.eu/paym/intro/mip…
The revised Payment Services Directive (PSD2)
Transition to stronger payments security
ecb.europa.eu 1
1
💳 SPC is not limited to card payments. The Web Payments #WorkingGroup explores its integration into other ecosystems, including Open Banking, PIX (Brazil) and other payment flows, to offer a common authentication method across platforms w3.org/groups/wg/payments/pu…
Jun 15, 2023 · 12:56 PM UTC
1
👥 @w3c, @FIDOAlliance and @emvco work together in the Web Payment Security #InterestGroup to develop interoperable specifications. SPC is built on #WebAuthn and integrated into EMV® 3-D Secure and EMV® Secure Remote Commerce. #Collaboration
1
1
Currently available in Chrome and Edge on MacOS, Windows and Android, SPC will seek implementation in other browsers and environments. Check the test suite out: wpt.fyi/results/secure-payme…
1
2
We invite feedback in the related #GitHub repo: github.com/w3c/secure-paymen…
3