3D Secure (3DS) is an additional layer of protection for online card transactions used on the Swaps.app platform to enhance security. 3DS helps prevent fraud and provides protection for both customers and service providers by adding an extra identity verification step for crypto payments and fiat transactions.
How 3DS works:
User Authentication: During an online transaction, 3DS redirects the user to their bank's page to confirm their identity, usually with a one-time password, SMS code, or other methods.
Identity Verification: The bank verifies the information to ensure that the cardholder is indeed the one making the purchase.
Transaction Completion: Once the identity is confirmed, the bank authorizes the transaction, and it is successfully completed.
3DS is supported by payment systems such as Visa (Verified by Visa), Mastercard (Mastercard SecureCode), and American Express (SafeKey), and it meets the PSD2 and Strong Customer Authentication (SCA) requirements, mandatory for online payments in Europe. This level of security helps Swaps.app ensure reliability and transparency in cryptocurrency transactions.