That’s exactly what I was thinking
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So if a business opts to use 3D secure is the bank liable?
And the opposite if they dont?
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I imagine there may also been a random flag as well.
In the sense of flag on average 1 in 100 transaction per person just because or something much higher
I don’t know the subject well enough, there are others here more informed but I assume the liability for fraud is shifted from the merchant if they use it.
I found quite a good article on the subject that shows when there is liability shift
https://www.worldpay.com/global/support/support-articles/what-liability-shift
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I recently used 3D secure for the first time in the UK and it actually made sense. Before in the US I would get the familiar frame with my bank’s logo, but that was it. The transaction would go through.
With Monzo it has me verify in app or by SMS.
Anyone know what is up with the difference?
CC: @GalaxyMergirl
In terms of approval, no difference
Some websites and apps can fail the transaction when you switch apps (to the Monzo app to approve in this case), which is rubbish design on their part, but can be avoided by using SMS instead and reading that from your notifications
I also had an issue with one merchant in the past when approving in app failed twice so I took to using SMS for a few weeks
What I am saying is with my US bank there is no verification whatsoever, so I don’t really understand the point of 3-D secure. However with Monzo it seems to actually perform some sort of verification which makes 3-D secure make a lot more sense
Did you have to enter some characters into that frame?
If so, that might have been like SecureCode (IIRC) over here before, which seems to have (thankfully) disappeared now
If they were both using 3D Secure, then I believe it comes down to risk appetite
Monzo auto-approve some of my transactions with a pattern I cannot totally discern - that is one area where there can never be that much transparency - but generally allows through transactons with merchants I have been to before and transactions from major retailers
@Js38wju3jda In general, US banks didn’t really support 3D Secure. Most likely they ‘supported’ it, but approved everything with no intervention, hence you not seeing anything.
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