Lyra’s Merchant Plug-In services with 3DS2 compliance
In India, most banks and fintech support the 3DS1 protocol. But the 3DS2 protocol is already being implemented by an increasing number of financial institutes.
The 3DS2 protocol, which uses cutting-edge technology to improve frictionless authentication, UX, UI, and other purposes, will shortly replace the 3DS1 protocol.
Issuers and acquirers must support, implement, and utilize this version of 3DS effectively starting on October 14, 2022, according to a roadmap released by MasterCard for the current version, 3DS V2.2 for Europe.
The V2.2 roadmap was published in “AN 5762 Revised Standards for Europe Region EMV 3DS 2.2 Roadmap for Remote Electonic Transactions” and will soon be made public in India.
Lyra’s 3DS v2.2 solutions
Lyra’s Merchant Plug-in services are already 3-DS V2.2 compliant. The latest version of the Lyra merchant plug-in (MPI) platform will help e-commerce merchants prevent credit card fraud and boost the Digital India campaign.
The platform operates on its own MPI to facilitate 3D-secure verification. This plugin provides airtight security to merchant banks. In terms of shifting authentication to the issuer bank of the cardholder.
Lyra MPI eliminates the pain point of redirecting, improving the user experience for out-of-bound transactions.
It offers compliant authentication methods and enables issuers to fully meet the requirements of the PSD2, SCA, and RTS.
Being the first of the many to offer the latest in security authentication with 3DS 2.2, Lyra will be able to help merchants with frictionless authentication and secure transactions.
A complete package of myriad features and benefits
Lyra MPI is certified with Visa and MasterCard and offers a real-time card authentication solution. It enables banks to view 3DS related communication in real-time using the Lyra web portal. It provides the issuer ACS URL immediately on the portal whenever ACS is down.
With simple merchant integration, the platform also provides multi-currency and multilingual management. Above all, Lyra MPI maintains transaction integrity and offers fraud and chargeback minimization.