Top Payment Authentication Trends You Should Know

Modern consumers are highlighting the importance of convenience when it comes to transactions. Because of this, merchants must find ways to ensure seamless checkouts while increasing revenue. 

What the Numbers Say

The introduction of online shopping has opened new possibilities for merchants and buyers alike. E-Commerce transactions give the convenience that consumers look for. In 2020, E-Commerce grew to $799.18 billion. It is expected to have reached $908.73 by the end of 2021.

That said, consumer demands have increased as well. One of the issues that merchants face is cart abandonment. According to Baymard Institute, the average online shopping cart abandonment rate is 69.82%

The National Retail Federation (NRF) Consumer View Winter 2020 showed that convenience is among the top considerations of consumers when shopping. In fact, 97% of participants said they have backed out of purchases due to inconvenience.

Convenience and Security

Offering fast and convenient checkout processes is vital. However, merchants should also focus on security. 

Since e-commerce involves the use of money, it becomes an attractive target to fraudsters and scammers. That means sellers have to find a way to balance security and convenience. This way, they can provide an easy and safe experience to customers.

To help you get started, here are some of the top payment authentication trends you should be aware of:


The use of biometrics as an authentication solution is a great way to prevent cyber security issues. With this, the user authenticates a payment with their fingerprint, face, iris, or voice.

Many people are already acquainted with the use of biometrics. That is because many mobile devices allow biometric authentication to provide access. 

Now, this security solution has successfully transferred to the payment authentication world. Mobile wallets, like Apple Pay and Google Pay, are a testament to this. Users authenticate payments through face or fingerprint on their mobile device. There are also payment cards that have fingerprint sensors. 

EMV® 3-D Secure (EMV 3DS)

Another technology seeing growth worldwide is the EMV 3DS, wherein a messaging protocol identifies and verifies the cardholder for transactions wherein the card is not present.

Merchants verify whether the cardholder is making the purchase or not by sending data about the specific transaction, payment method, and device information to the card issuer. The issuer, in turn, reviews the provided data. If verified, it authenticates and processes that transaction.

To ensure the effectiveness of these payment authentication methods, the merchants and consumers need to take security protocols. For instance, having multi-factor authentication can provide better protection.

Learn more about biometrics at Nok Nok Products.

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