Payment service provider Secure Trading has partnered with internet security platform Citizen.
The company said it has partnered with Citizen to secure proof of consent for card-on-file and to provide chargeback defence for friendly and general fraud.
Citizen is a SaaS platform which enables companies to acquire provable consent from their customers in accordance with the new standards required by Visa and PSD2. Citizen also enables Strong Customer Authentication using biometrics to validate customers – reducing both chargebacks and fraud.
James Neville, CEO of Citizen, said: “The world of customer engagement and payments continues to mature and become more complex. Citizen provides a solution to numerous challenges that this may present.
“By deploying Citizen, merchants can remove the need for passwords across their digital estate, simplify registration and onboarding down to ‘one touch’, and provide GDPR compliant solutions to authenticate, validate and gain consent for customer data. Our goal is to help merchants reduce both fraud and friction.”
The deal comes nearly a year after Visa introduced new rules and upcoming PSD2 regulations increasing the requirements that merchants must consider moving forward. Merchants, payments processors and digital wallet operators now must seek cardholder consent for initial storage of details, and flag transactions using appropriate stored credential indicators.
Together, Secure Trading and Citizen will offer consent solutions for online transactions, and friendly fraud solutions for subscription-based services, among other use cases.
Jonathan Hawkins, director of account management at Secure Trading, added: “By partnering with Citizen, we can offer our merchants a quick-to-rollout, but highly effective solution that will help with a number of existing and upcoming industry challenges.
“At the same time, they will help these merchants to offer a superior service to their own customer base. We want to show our merchants how they can increase engagement with their customers, whilst reducing their own potential exposure to fraud and chargebacks.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
