In line with new regulations, more banking systems and payment gateways are shifting to more secure payment processing methods. We have been monitoring how the landscape of online payment processing is changing and are now in a position to pass this information on to all of our e-commerce clients.
Why are online payments changing?
All banks are adding extra levels of security to improve fraud prevention. As a consumer, this means that when you checkout online you will increasingly be asked to confirm a few extra security checks as part of your online transaction.
When is it changing?
You may have noticed already with some websites you are asked to confirm your date of birth or receive a text with a pin to confirm your payment. This is just the start of what is changing and it is expected to fully roll out throughout 2022.
How does this affect my online shop?
Firstly you need to understand there are 2 different types of payment gateways.
- Self Hosted Payment Gateway Page
With a self hosted payment gateway, the customer never leaves your website. Data is collected on your checkout page and then submitted behind the scenes to your payment gateway for processing.
- 3rd Party Hosted Payment Gateway Page
With a 3rd party hosted payment gateway, the customer is redirected to a payment page that is hosted by the payment gateway provider, after successfully processing the payment on your behalf the customer is returned back to your website.
If you have a self hosted solution on your website you might need to upgrade your payment gateway to include the new security steps.
If you have a 3rd party hosted payment gateway it is very likely but not yet confirmed that the 3rd party hosted page will be updated by the payment gateway provider because they handle all of the security updates on hosted pages.
If you want to discuss these changes further contact us today.