Payment processor Adyen has launched a new solution to help customers boost security and authorisation rates.
The 3D Secure (3DS) 2.0 solution will help merchants reduce risk and protect their customers from payments fraud. Adyen claims 3DS 2.0 is the first solution available capable of authenticating a transaction in the background without intervention from the customer, creating a seamless payments experience and helping merchants increase conversion rates.
It analyses more than 100 different data points shared between issuing banks, and information from across Adyen’s global payment network, to help merchants build stronger authorisation cases.
The solution also creates an improved customer experience for transactions that require strong authentication, enabling shoppers to use biometrics such as fingerprint recognition, voice recognition or facial scans, as well as SMS-delivered two-factor authentication.
According to Adyen it can automatically determine compliance requirements for each transaction, helping merchants to manage regulatory requirements such as the European Union’s Payment Service Directive 2.0 (PSD2).
Brian Dammeir, head of product at Adyen comments: “Adyen continues to simplify payments for merchants. Our first-to-market 3DS 2.0 solution helps merchants reduce fraud risk, navigate complex regulatory frameworks such as PSD2, and improve the customer experience.
“It builds on the benefits of the original iteration of 3DS and overcomes the pitfalls, offering maximum fraud protection with minimal friction, as well as working seamlessly on mobile devices.”
Adyen’s system can also help merchants in markets that do not need to comply with PSD2. This is done by automatically identifying banks that will reward them with higher authorisation rates for silently sharing extra data using 3DS 2.0.
“There’s no doubt that PSD2 and 3DS 2.0 represent a significant challenge for merchants, but they also create opportunities,” Dammeir added. “To help capitalise on the opportunities, our 3DS 2.0 solution works universally as a central authentication solution for merchants who work with various partners across the world.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
