A new era of electronic commerce is about to begin in Brazil and one of the main drivers of this transformation will be debit.
This payment method must bring a new consumer profile to Brazilian e-commerce: people who do not have credit but wish to be included digitally.
To get an idea, between June 2018 and June 2019, there has been a growth of more than 70% in the number of online merchants who have made Visa debit transactions, according to Visa Consulting & Analytics data.
The 3D Secure 2.0 protocol is expected to drive this growth, according to Visa. “This technology takes debit to electronic commerce safely and improves the user experience. We believe that debit is an excellent ally in the digital inclusion of Brazilians, who do not yet have access to the online world. And it should increase the conversion of sales of commercial establishments, ”says Fernando Teles, Country Manager of Visa Brasil.
Benefits of the new protocol
According to the company, the update of the 3DS 2.0 protocol establishes a flow of communication and information exchange between the administrator, the issuers, the acquirers and the commercial establishments to approve the transactions with greater precision, which should contribute to an increase in the conversion of virtual sales for fraud reduction. The new version offers 10 times more information that merchants can send to issuers to verify the identity of the cardholder.
“We recently made the first transaction with this new version of the protocol in Brazil and the payment industry (issuers, acquirers and merchants) is preparing to implement and deliver the benefits of 3DS 2.0 this year to consumers,” says Teles.
Dafiti is among the companies that will adhere to this new protocol. “Today there are still many opportunities to take advantage of debit card sales in the online universe. For us, 3DS 2.0 will contribute to this by providing a better shopping experience for our customers through a secure and efficient transaction, “says Rafael Carneiro, Senior Payments and Treasury Manager at Dafiti.
Another movement that has been gaining ground and popularizing debit in the online world is the possibility of using it in applications. Specifically it has been implemented in digital companies that seek ease of use without interruptions. For example streaming and collaborative transport.
“In the case of Cabify, the online debit payment seeks the digital inclusion of people who do not have access to a credit card or have credit limit restrictions. The addition of this payment method gives more users access to a safe and convenient way. Now, with the debit card registered in the application, the transaction process is minimal, since it is not necessary to re-include the card and password in each operation which provides a lot of agility at the end of the race, “says Nicolas Scridelli, Head of Cabify Alliances and new businesses.
Visa also maintains that the solution developed with Brazilian issuers allows the use of large-scale debit, without POS and directly in the application without the need to re-include the password in each operation. After the pilot carried out in 2017, the debit began to occupy an important space among new companies, such as mobility, streaming, delilvery among others.