18 months of Revolutionary Change in How we Buy Online
Short Blog
Follow up to my June 2024 blogs – eCom Politics and Scenarios and Fastlane + FIDO Enabled Checkout. Today, we focus on the changes, what merchants are asking for, and what consumers will adopt (and when).
Read First – Blog on SPA from Checkout.com
Background Reading – June blog eCom politics and Scenarios, and Identity, Authentication and Risk
What’s the big news here? SPA allows Google to stand at par with ApplePay in providing the best-authenticated checkout experience. Google looks to have taken TWO MASSIVE pieces out of the authentication process: 1) 3DS handshake (putitting in Cryptogram and 2) A step up from the Issuer (possibly – a significant portion of this blog). This is a generational improvement and massive simplificaiton of the current 3DS flow.
The mobile platform is key to authentication and Google is the preferred partner of every bank, merchant and network. Their challenge in SPA? Doesn’t seem Checkout.com coordinated with the networks on SPA (ie liability shift OR step up). I think it will get worked out as the quality of this innovation is just fantastic.
As I wrote in June, ApplePay 2.0 plans to cross the chasm from mobile only to desktop (as announced at WWDC). Google is proving that they have the same capability, as Chrome makes up about 10-12% of eCom and over 30% of guest checkout at most retailers; they are positioned well (particularly in Android markets).
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PayPal’s bulls are building a case that Fastlane will drive new growth. My perspective after talking with many of the large US eCom merchants,
A follow-up to my previous post covering Identity, Authentication and Risk
FIDO2, eID, Mobile Wallets, and other initiatives are rapidly advancing to a future of passwordless authentication. “Perfect Authentication” will be highly disruptive to all payment networks, methods and stakeholders. This blog outlines the rough economic impact, winners and losers in a future scenario. Today’s blog is not a dissertation but a “framework” providing puts and takes on disruption due to better authentication.