|
| Friday, 31 August 2018, 10:20 HKT/SGT | |
| |  | |
Source: Adyen | |
|
|
|
SINGAPORE, Aug 31, 2018 - (Media OutReach) - Adyen, the payments platform of choice for many of the world's leading companies, today launched a fully-compliant 3D Secure (3DS) 2.0 solution which it has made available to its customers or merchants needing a next-generation authentication solution.
The first-to-market solution is based on EMVCo's 3DS protocols and will help merchants reduce risk and protect their customers from payments fraud. It also overcomes a significant pain point of 3DS 1.0 by improving the payments experience for customers, particularly on mobile.
Adyen's 3DS 2.0 is the first solution available capable of authenticating a transaction in the background without intervention from the customer. This creates a seamless payments experience and helps merchants increase conversion rates. It is made possible through EMVCo's 3DS 2.0 protocols, enabling the analysis of 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.
It 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. Importantly, Adyen's solution can be seamlessly implemented on mobile devices, something that previous iterations of 3D Secure 1.0 could not achieve.
Adyen's 3DS 2.0 solution automatically determines compliance requirements for each transaction, to help merchants to manage regulatory requirements such as the European Union's Payment Service Directive 2.0 (PSD2) and allows global merchants to accept transactions originating in Europe.
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.
Dammeir continues: "There's no doubt that PSD2 and 3DS 2.0 represent a significant challenge for merchants, but they also create opportunities. 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."
Adyen is a core member of EMVCo, working with Visa, MasterCard, AMEX, JCB, Discover, Diners UnionPay and all other major local card schemes to offer 3DS 2.0 services.
About Adyen
Adyen (AMS: ADYEN) is the payments platform of choice for many of the world's leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers' globally preferred payment methods. Adyen delivers frictionless payments across online, mobile, and in-store channels. With offices across the world, Adyen serves customers including Facebook, Uber, Netflix, Spotify, Cathay Pacific, Grab, Klook, Lorna Jane, Freelancer.com, Kogan.com and Showpo. https://www.adyen.com/
Follow Adyen on Twitter http://www.twitter.com/adyen
Contact Details
Melissa Jaswal
+65 6213 7977
Melissa.jaswal@ogilvy.com
Topic: Press release summary
Source: Adyen
Sectors: Cards & Payments, Retail & eCommerce, Cloud & Enterprise, Blockchain Technology
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
|
