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retailers’ servers, a critical advancement when considering that most well-known retail data
breaches (like that on Target) have taken place at the merchant server level.

Additionally, enhancements to network tokenization support are expanding into e-Commerce,
protecting consumer and card data for the transactions initiated online or via mobile devices.

Finally, biometric payments are going to take center stage in 2015. ATMS are expected to adopt
biometric authentication and Visa and MasterCard plan to replace their online password systems
with biometric technology later this year. With Apple Pay consumers are already using fingerprint ID
to make purchases. The implications for a higher form of security are certainly clear with biometrics,
with the added benefits of ease of use and convenience that in many ways 3D Secure cannot offer.

While developments in the new 3D Secure are one to watch, it’s important to consider all of the
weak spots in the existing solution – poor user experience, cost, lack of participation – that need to
be answered in the new proposed solution. While some advancements to the protocol – such as
more intelligent risk monitoring and globalized integration standards – are underway, alternative
technologies will quickly surpass 3D Secure by the time it is ready to be deployed on a wider scale.
When considering the rate at which breakthrough technologies like biometrics are hitting the
market, one can’t help but wonder if the new 3D Secure will be too little, too late.

About the Author
Nish Modi is the SVP of Product and Innovation at SecureNet, and end-to-end payment processor
headquartered in Austin. He has more than 17 years of industry experience. To learn more about
SecureNet and get in touch with Nish, visit www.securenet.com.

6 Cyber Warnings E-Magazine – February 2015 Edition
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