Re:Microsoft accepting Bitcoin
by striking on Thursday December 11, 2014 @09:22AM
(#8734815)
From the Wikipedia article: "One disadvantage for merchants is that they have to purchase MPI to connect to the Visa or MasterCard Directory Server. This is expensive (setup fee, monthly fee and per-transaction fee)" and
"Supporting 3-D Secure is complicated and, at times, creates transaction failures. Perhaps the biggest disadvantage for merchants is that many users view the additional authentication step as a nuisance or obstacle, which results in a substantial increase in transaction abandonment and lost revenue."
[ Parent
| on HN ]
We are talking about Google and Apple here. They should be able to afford it.
They don't have to enforce 3-D secure on everybody.. they only have to deploy it on Debit cards from India. Also they don't have to implement it themselves. Many smaller merchants use 3rd party payment gateways.
>>results in a substantial increase in transaction abandonment and lost revenue.
Right now 100% of all debit card transactions in India are abandoned due to lack of 3-D Secure. Almost all Indians who have a bank account have a debit card. A very small minority have acccess to Credit cards.
I think the biggest reason for merchants like Google and Apple to avoid 3-D secure is that they cannot pull money from your account without your permission. Each individual transaction has to be authenticated.