Galileo Launches 3D Secure Product to Guard Against Credit Card Fraud

Galileo Financial Technologies now offers 3D Secure to help clients protect against card-not-present (CNP) debit and credit card fraud.

The company’s new Galileo 3D Secure Access Control Server is available to clients in the United States, Canada and Latin America, Galileo said in a Tuesday (July 23) press release.

“With CNP fraud on the rise, the benefits of 3D Secure extend far beyond payment security — it’s about empowering our clients across industries to proactively manage risk while ensuring a seamless customer experience in an efficient, secure payment product,” David Feuer, chief product officer at Galileo, said in the release.

3D Secure, a security protocol developed by the card networks, can reduce fraud rates by up to six times compared to non-3DS transactions, according to the release.

The protocol adds a layer of security to authenticate online credit and debit card transactions, requiring the cardholder to verify their identity through an additional password, a one-time code or other means, the release said.

3D Secure also protects businesses from disputes, as payments that are successfully authenticated using the protocol shift the liability of chargebacks from the business to the card issuer, per the release.

With Galileo 3D Secure, clients can manage security rules and create custom risk scores based on customer profiles; access enriched fraud intelligence from Galileo’s proprietary data consortium; and receive real-time updates and analytics that facilitate proactive risk management, according to the release.

Businesses, financial institutions and FinTechs can reduce risk and capture opportunity in uncertain times by using technology and smart strategies to get the most from their data, Galileo CEO Derek White wrote in the PYMNTS eBook, “The Implications of Uncertainty.”

“Break down the silos, invest in cleaning and intelligently caching your data, ensure it can be easily called upon and most importantly, use the insights to deliver outstanding services and customer experiences,” White wrote.

In an earlier product launch, Galileo unveiled its Payment Risk Platform in October 2023, saying that the platform is a “holistic fraud engine” offering real-time payment risk mitigation controls to FinTechs and financial brands.

The platform lets companies that aren’t part of the Galileo processing ecosystem integrate the company’s fraud application programming interfaces (APIs) to implement risk assessments and controls.