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June 13, 2019

SafeCharge launches its Smart 3DS Service to support merchants in addressing Strong Customer Authentication

SafeCharge’s solution supports businesses seeking to be compliant with the rules on Strong Customer Authentication and to strike a balance between security and user experience.

 SafeCharge (AIM: SCH) – the payment service partner for the world’s most demanding businesses – today launched SafeCharge Smart 3DS Service, an acquirer-agnostic solution that will allow merchants to take advantage of the 3D Secure’s approach to Strong Customer Authentication. Many merchants are concerned that the rules may lead to a significant loss of revenue. The solution is available to any business, regardless of its acquiring partner. It minimises the risks and enhances the user’s payment experience.

3D Secure 2.0 is the updated protocol supporting SCA requirements. It ensures a seamless and more secure payment experience, even on mobile devices, thereby reducing the risks of fraud and customer drop-out. SafeCharge’s Smart 3DS Service dynamically routes customer transactions through a smart engine, analysing various data points and parameters in real-time to ensure the smoothest available secure payment flow and the best conversion rates, with minimum input from the consumer.

“The e-commerce landscape is growing in sophistication, with regulations becoming stricter and customers expecting the sleekest experience, no matter how they shop. Merchants need to be able to protect their customers in the least intrusive way to maximise conversion rates, but the complexity associated with 3DS2 can often be overwhelming,” said David Avgi, SafeCharge CEO. “We developed SafeCharge Smart 3DS Service in-house from the ground-up, to enable any business to automatically direct any payment flow through the best authentication process depending on exemptions, rules and individual risk assessments.”

Powered by the latest Machine Learning technology, SafeCharge Smart 3DS Service is capable of analysing large amounts of information and making smart decisions in real-time. It determines whether the transaction might be exempted from additional authentication steps with the issuing banks or, if it needs extra input from the customer – such as a one-time password, or biometric data. The solution is available through SafeCharge’s Hosted Payment Pages, APIs or via WebSDK, and offers complete control over the user interface.

 

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SafeCharge Limited is an Electronic Money Institution authorised and regulated by the Central Bank of Cyprus and is a principal member of MasterCard, Visa and Unionpay International (CUP). SafeCharge Financial Services Limited is authorised and regulated by the Financial Conduct Authority as a Payment Institution. Both SafeCharge companies are wholly owned by SafeCharge International Group Limited.