You would be shocked to know the alarming rate at which online frauds have increased in the past few quarters. There are methods in place such as 3-D Secure by different card companies. However, hackers continue to find their way around it due to different reasons. Typically, 3-D Secure protocols prompt the user to enter either a password or an OTP that they send for authorizing a transaction.
When users first sign up, they have to either enter a password or select to receive an OTP, which will be used for authorizing a transaction. A Merchant plug-in, or MPI, is used for facilitating authentication and identifying the account number for checking if the user is a part of the 3-D Secure program or not.
Some users abstain from registering from 3D Secure as they think that it is a hassle more than a security feature. But with the new technologies in places such as Access Control Servers or ACS, there can be more security incorporated in the transactions. Reach out to UniPay if you need any further clarifications or assistance regarding 3D Secure 2.0.