Implementing robust payment authentication methods is essential for financial institutions and businesses to mitigate fraud and enhance the security of transactions.
Payment authentication methods, such as biometrics and 3D Secure, are used to verify the identity of cardholders during transactions, preventing fraud and unauthorized access. Biometrics uses unique biological traits like fingerprints or facial recognition. 3D Secure adds an extra layer of security for online transactions.
These methods reduce fraud losses, enhance security, and build customer trust, which are crucial for maintaining a positive brand reputation. Implementing robust authentication methods is essential for compliance with regulations like PSD2, which mandates Strong Customer Authentication (SCA). They also improve customer satisfaction by providing a secure and convenient payment experience.
In an era of increasing cyber threats, robust authentication is essential to protect cardholders and maintain the integrity of the payment ecosystem.
We begin by assessing your existing authentication infrastructure and identifying areas for improvement, providing a clear roadmap. You will be offered insights into the latest advancements in biometric authentication, ensuring you leverage cutting-edge technologies that are both secure and user-friendly.
We provide expert advice on implementing 3D Secure, ensuring compliance with industry standards and best practices, and minimizing friction for customers. We ensure technologies are implemented correctly and that they, quite simply, do what they’re supposed to be doing.
Our services extend to user experience design, ensuring a seamless and frictionless authentication process, and maximizing customer satisfaction. We help to ensure the balance between security and customer experience is maintained, and provide customized solutions tailored to your specific needs.
We focus on implementing and optimizing secure, user-friendly payment authentication methods, including MFA, TRA, biometrics, SCA, options without password, API security, tokenization, and UX optimization, to mitigate fraud and ensure regulatory compliance.
Access the suitability of MFA methods (e.g. biometrics, one-time passwords, push notifications) for different use cases.
Enhance your TRA capabilities, enable risk-based authentication that balances security with user convenience. Including optimizing rule engines and integrating real-time risk scoring.
Provide expertise on integrating biometric authentication methods across various payment channels.
Help with understanding and implementing SCA requirements (as mandated by regulations like PSD2) across their payment flows, ensuring compliance.
Develop and adapt regulations to manage open banking ecosystems, and define the roles and responsibilities of different participants.
Advise on the need for ongoing monitoring of authentication effectiveness and the ability to adapt strategies in response to evolving threats and user behavior.
Curious to know more?
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