• Home
  • About Us
  • KnowledgeBase
  • Merchant FAQs
  • News
  • Login
  • Home
  • About Us
  • KnowledgeBase
  • Merchant FAQs
  • News
  • Login
Home/Knowledge Base/Transactions/Is OTP required for international transactions?

Is OTP required for international transactions?

26 views 0 July 14, 2024 octalas

Yes. OTP is required for international transactions.

There would be some hidden fraud trying to steal sensitive information from users. Security protection is absolutely the top priority for data transactions, especially for SMEs and startup businesses. Sensitive information, such as customers’ credit numbers or customer’s personal data needs to be protected in order to maintain the relationship with customers.

High-quality security systems not only increase the conversion rate for your business, but also offer a seamless online payment experience and build up the trust inside customers. PayCEC payment system will provide a high-qualified fraud protection program including preventing fraud, protecting users’ money and purchasing process.

The 3-D Secure program was designed by the Visa and MasterCard networks to ensure cardholder authentication during online payments in order to reduce fraud. The terms “Verified By Visa” and “MasterCard SecureCode” are used by the Visa and MasterCard networks to refer to the 3-D Secure program. The cardholder must authenticate the payment transaction if you are a member of the 3-D Secure program.

PayCEC provides 3D payment gateway services for merchants to integrate the checkout platform into their websites to facilitate online card payments. Below steps help you understand the overview of a 3D secure payment process.

  • Step 1: The shopper chooses an item, and adds it to his/her online shopping cart.
  • Step 2: Customer places an order on merchant’s website by clicking the “Proceed checkout” or equivalent button.
  • Step 3: Website redirects to Checkout page of Octalas and the customer is required to input payment information.
  • Step 4: OTP process – There is an OTP sent to the shopper’s mobile phone and the shopper has to input the one-time password to enable the transaction.
  • Step 5: The merchant submits the order to Octalas 3D secure payment gateway.
  • Step 6: The Octalas payment platform securely sends the transaction to the processor.
  • Step 7: The processor verifies and approves the transaction, and routes the transaction to the card association (Visa / Mastercard / American Express).
  • Step 8: The Card Scheme screens and forwards the transaction details to the customer’s bank, which is known as the issuing bank for approval.
  • Step 9: Approval/Denial is sent back to the Card association and processor and Octalas payment gateway respectively.
  • Step 10: The merchant receives the message “Transaction Approved”, and the fund is deducted from the customer’s bank and settled into the merchant’s bank account.
  • Step 11: The merchant gets paid for the sold item, and the shopper has got his/her purchase.

When businesses scale up globally, the 3D secure payment gateway is a compulsory factor to persuade international customers to make purchases. It is essential because international transactions themselves contain a hidden risk rate. Not only the risk affects online shoppers but also merchants too. The 3D secure Payment gateway plays as the first line of defense against cybercrime in the financial and payment sector.

Was this helpful?

Yes  No
Related Articles
  • Which is the best payment gateway for international transactions?
  • What are the 4 methods of payment for international transactions?
  • What are international transactions?
  • How can I make online payment?
  • How do I make an international payment?
  • Can i receive money from overseas?

Didn't find your answer? Contact Us

Leave A Comment

You must be logged in to post a comment.

Popular Articles
  • What are the 4 methods of payment for international transactions?
  • How to get a Merchant Account?
  • Creating Payment Links
  • What is first-party fraud in banking?
  • Who is using blockchain? / Who uses the blockchain?
KB Category
  • Subscriptions
  • Octalas Prime
  • WorldPay Support
  • Virtual Cards
  • PAX Terminals
  • Payment Gateway
  • Ingenico Terminals
  • Crypto Acceptance
  • AI Powered Chatbot
  • Mobile Payments
  • Instagram Chatbot
  • SEPA Transfer
  • Facebook Chatbot
  • Chargebacks And Fees
  • Lead Generation Chatbot
  • CVV
  • Blockchain
  • Crypto Fiat Settlement
  • Transactions
  • Merchant ID
  • Merchant Account
  • Payment Links
  • SoftPOS

  How can I make online payment?

What are international transactions?  

manual
At Octalas, our commitment to our clients is always at the forefront of everything we do. We strive for excellence in all aspects of our business, from providing tailored solutions to delivering exceptional customer service.
About Us
  • Our Value
  • Our Mission
  • Octalas Press
  • Code of Conduct
Octalas Brands
  • Octalas Group
  • Octalas Ireland
  • Octalas Global
  • Octalas Secure
  • Octalas Software
  • Octalas Prime
Quick Links
  • Merchant Banking
  • Intercharge++
  • Merchant Platform
  • Restaurant Mobile App
  • Privacy Policy
  • Terms of Use
  • © Octalas Support-2024. Octalas Ireland 747027 Powered By octalas.com. All Rights Reserved.