I’d like to see those numbers scoped to UK/EU cards in recent years. 2FA for payments is almost universal, has been for years, and is almost no effort at all - either tap a notification or enter a code sent by SMS to you.
Took some digging, but I found a Visa submission to the EU / European Banking Authority stating that cart abandonment due to Verified By Visa / 3D Secure was nearly 14% in Spain (worst case), 2.5% in the UK, and 3x - 5x higher with 3D Secure than without. The context appears to be Visa recommending Risk Based Authentication (RBA) anti-fraud methods, rather than the EU legal requirement for Strong Customer Authentication (SCA) via one-time authentication methods.
"Furthermore, Visa observed that independently of the SCA method used (SMS, Password, Bank credentials, etc.) when customer intervention is requested the abandonment rate is between three to five times higher than when authentication happens frictionless via RBA."
EDIT: While I'd prefer to take Visa's own numbers, "Global Banking & Finance Review" published statistics in May 2021 claiming decrease in conversions of 25% - 50% across Europe after the introduction of the EU Payment Services Directive 2 requiring Strong Customer Authentication.
I'm sure there was a spike before it was universal, but it would be interesting to know what it settled down to. If you abandon your cart because of 3D Secure in Europe nowadays you won't be buying much...
Some data posted in July 2022, suggesting things improved - but improved because more transactions were allowed to be exempt from 3D Secure requirements. (eg subscriptions with card-on-file instead of one-time purchases, and merchants with low fraud rates successfully applying to have their threshold increased to €500 before 3DS is required).
[I wish Visa Europe / Mastercard published their own data somewhere easy to find, instead of wading through 3rd party data from companies with an agenda. Maybe it's out there and I haven't found it.]
"Moreover, after only 3 months of 3DS flow implementation, the European grand total of authentication rate improved from 61.8% to 74.5%, with the UK being an absolute leader with almost 90% authentication rate in 3DS flow with Mastercard. Frictionless flow (3DS exemption) was the main reason for this high authentication rate. Authenticated frictionless transactions (exempt of SCA) accounted for almost 30% of authenticated transaction (21.4% pre-3DS), the reason was yet again the real-time efficient TRA. The UK was the leader again with 61.4% exempt transactions with Mastercard, along with high exemption rates in Spain, Greece and The Czech Republic. Axerve, in turn, reported that the authentication conversion rate was 76.22% after 3DS protocols became obligatory."
I thought "exemption" from 3DS was universal for subscriptions beyond the first payment. I've certainly never once had to go through the 3DS flow for a second or subsequent payment of a subscription.
