Payment systems Visa and MasterCard have established new tariffs for banks’ use of the 3D Secure authorization service for online payments, Kommersant reports. This authorization protocol requires entering a confirmation code to complete a transaction, which usually comes via SMS or push messages - the specific authorization method is chosen by the issuing bank.
Visa's new commission will take effect on October 16. The tariff will apply to all transactions with 3D Secure version 1.0.2, the cost will be $0.02 per request (minimum $500, maximum $25 thousand per month). The version of the service from 2.1 for card issuers will begin to be subject to commissions a year later - from October 15, 2022. Until this date, only acquiring banks will pay it.
MasterCard will introduce tariffs for using the service from March 1, 2022. Its tariffs will have a fixed part - €1 thousand per month from both acquirers and issuers. The variable portion will be different for one-time requests - 0.018%, or a maximum of €0.054 for acquirers and 0.011%, or a maximum of €0.055 for issuers. For recurring requests, the fee will be 0.006% or a maximum of €0.018 and 0.0037% or a maximum of €0.0185 for acquirers and issuers respectively.
Thus, Kommersant notes, the costs of large banks can increase significantly - they will have to pay up to $300 thousand per year for the commission for using 3D Secure with Visa, and even more with MasterCard.
Visa explained that the new measure should stimulate the transition to the use of a more modern transaction security protocol, EMV 3D Secure. Representatives of MasterCard said that the company wants to balance the benefits that secure non-cash payments provide, while “every payment has a certain cost.”
Visa's new commission will take effect on October 16. The tariff will apply to all transactions with 3D Secure version 1.0.2, the cost will be $0.02 per request (minimum $500, maximum $25 thousand per month). The version of the service from 2.1 for card issuers will begin to be subject to commissions a year later - from October 15, 2022. Until this date, only acquiring banks will pay it.
MasterCard will introduce tariffs for using the service from March 1, 2022. Its tariffs will have a fixed part - €1 thousand per month from both acquirers and issuers. The variable portion will be different for one-time requests - 0.018%, or a maximum of €0.054 for acquirers and 0.011%, or a maximum of €0.055 for issuers. For recurring requests, the fee will be 0.006% or a maximum of €0.018 and 0.0037% or a maximum of €0.0185 for acquirers and issuers respectively.
Thus, Kommersant notes, the costs of large banks can increase significantly - they will have to pay up to $300 thousand per year for the commission for using 3D Secure with Visa, and even more with MasterCard.
Visa explained that the new measure should stimulate the transition to the use of a more modern transaction security protocol, EMV 3D Secure. Representatives of MasterCard said that the company wants to balance the benefits that secure non-cash payments provide, while “every payment has a certain cost.”
