According to Visa statistics, VTS brings an approval uplift of 2.5% and reduces fraud by transaction value by 26%. A token is bound to a merchant and so, when presented, it is already limited in scope as far as potential fraud; in addition it indicates that the merchant and the cardholder have already interacted and in particular had the opportunity to carry out an SCA before setting up the token. By removing the PAN, the overall security of the payment process is greatly enhanced.
VTS allows for cardholder credentials to be stored, thus streamlining the cardholder experience and reducing friction. At the same time, it removes the burden of PCI compliance on merchants. VTS also makes the management of stored credentials easier with automatic updates.
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EMVCo and the other payment networks are collectively deprecating the 3DS v2.1 protocol to make 3DS 2.2 the default protocol and eventually phase in 3DS 2.3.1.
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