India-based payment solution provider PayU has launched 3D Secure 2. 0 SDK, offering a full native checkout and customer experience for card transactions.

PayU merchants can provide optimised customer experience while complying with major card network upgrades, including Visa and Mastercard, while gaining better security and fraud protection. PayU's lightweight 3DS 2. 0 SDK provides lowered latency and a 40% reduction in checkout time.

This EMVCo certified offering has been developed by PayU in collaboration with Wibmo, a PayU owned full stack global paytech company. Catering to India’s payment security mandates Most card networks including Visa and Mastercard are geared to phase out older authentication systems and will be moving to 3DS 2. 0 in India by October 2023.

With a simple integration, PayU merchants and acquirers can be compliant with the 3DS 2. 0 mandate. This lightweight solution allows merchants to control user experience, offers the highest coverage across banks and card networks, and unlocks frictionless, biometric capabilities.

Commenting on this development, PayU’s officials said this product is part of their ongoing commitment to offering a faster and safer digital payments infrastructure for their merchants. With this, they are helping businesses provide customers an augmented user experience, and better success rates while supporting security authentication for all card use cases. This move is in line with PayU's commitment to elevating its own security infrastructure and identifying ways to offer a safe digital payments infrastructure to the merchant community in India.

Financial fraud in Indian banking amounted to USD 785. 4 million in 2022. Globally, 3DS 2.

0 authentication has shown a 57% fraud reduction and a 70% reduction in abandonment and is built for multiple devices and screen sizes, unlike earlier variants which were built only for computers, as per the press release. What does PayU do? PayU is regulated under the Reserve Bank of India and has advanced solutions to meet the digital payment needs of the Indian market. PayU India aims to create a full-stack digital financial services platform to serve all (tapped and untapped) financial needs of customers (merchants, banks, and consumers) through technology.

PayU provides payment gateway solutions to online businesses through its technology. The company is one of the leading payment gateways in India and has supported businesses, including leading enterprises, ecommerce giants, and SMBs. It enables businesses to collect digital payments across 150+ online payment methods such as Credit Cards, Debit Cards, Net Banking, EMIs, BNPL, QR, UPI, Wallets, and more.

It is a preferred partner in the affordability ecosystem, offering a large coverage of issuers and easy to implement integrations across card-based EMIs, pay later options, and new-age cardless EMIs. .