Tagged: sca

Checkout.com Makes Authentication Enhancements to Enhance Payment Performance

Checkout.com, the cloud-based payments service provider, announced updates to its Authentication product “to help merchants combat fraud and optimize their revenues, with an evolving toolkit of products and features to help merchants navigate the rapidly evolving landscape.” Checkout.com’s enhancements to its Authentication solution “comes at… Read More

Nationwide Building Society Reportedly Stops 2,000 More Online Shopping Frauds with SCA

New payment checks at online checkouts are “proving invaluable” as Nationwide Building Society reports it is “protecting its members from an additional 2,000 cases of online card fraud a month.” Despite the fact that some transactions now take a little longer, new research from UK’s… Read More

UK Retailers Losing Out on £4.3M in Sales Each Day as SCA Rules Block Non-Compliant Transactions: Report

Data from Barclaycard Payments, which handles £1 in every £3 spent on credit and debit cards in the United Kingdom, reveals that many online businesses are still “not fully compliant with the new Strong Customer Authentication (SCA) regulation – which became mandatory for all transactions… Read More

Checkout.com Explains How Firms Can Make SCA a Part of their Competitive Advantage

Checkout.com, which recently raised $1 billion at a $40 billion valuation, notes that Strong Customer Authentication (SCA) is now “mandated across all of Europe and businesses have had to make changes to make sure they are compliant.” The team at Checkout.com writes in a blog… Read More

TrueLayer Clarifies What Changes to 90 Day Rule for Open Banking Access Actually Mean

Jack Wilson, Head of Public Policy at TrueLayer, notes that Open banking started back in 2018 thanks to appropriate regulations (PSD2) which gave consumers the right “to access their bank account data using third parties called account information services providers (AISPs).” However, these same set… Read More

Sift Acquires Passwordless Authentication Provider Keyless to Offer Regulated Firms and Merchants with Secure Authentication

Sift, the Digital Trust & Safety solution provider, has announced that it has acquired Keyless, a pioneer in passwordless and multi-factor authentication. Keyless’ zero-knowledge cryptography and privacy-preserving biometric authentication tech has been designed to eliminate account takeover (ATO) fraud because of “weak or stolen passwords,… Read More

Biometric Authentication, Contactless Payments, Digital Commerce Adoption Continues to Rise in Post COVID Environment: Report

Juniper Research recently published a whitepaper titled, “Cash is No Longer King: How Contactless Payments are Becoming the Norm.” The paper from Juniper Research notes that bricks-and-mortar retailers are now “under pressure” to provide increasingly “frictionless” shopping experiences. Consumers have started expecting quick, secured, and… Read More

ACI Worldwide, Provider of Real-Time Payment Solutions, Partners Swedbank, Will Combat Online Fraud

ACI Worldwide (NASDAQ: ACIW), an international provider of real-time payments and digital payment software applications, reveals that it has teamed up with Swedbank, a leading issuing and acquiring bank in the Nordic and Baltic regions. The company has contributed to a 55% decrease in payment… Read More

European Banking Authority Releases Report on Data Provided by PSPs on SCA Compliance Readiness

The European Banking Authority (EBA), a regulatory body of the European Union that’s headquartered in Paris, released a report, earlier this week, on the data offered by payment service providers (PSPs) on their readiness to apply strong customer authentication (SCA) for the set of payment… Read More

UK’s Financial Conduct Authority Postpones Implementation of Strong Customer Authentication by Another 6 Months

The UK’s Financial Conduct Authority (FCA) will be postponing the implementation of strong customer authentication (SCA) rules by another 6 months in order to minimize disruption for individual consumers and merchants. First scheduled for release in September 2019, the SCA guidelines – which require a… Read More

Strong Customer Authentication, a Requirement to Combat Payments Fraud, Might Lead to Many Customers Abandoning Purchases at Checkout

Strong Customer Authentication (SCA) testing performed by tech giant Microsoft reveals that consumers are actually leaving their planned purchases at relatively high rates when challenged at the time of checkout. SCA is a European regulatory requirement that aims to reduce or eliminate fraudulent activities and… Read More

UAE’s Securities and Commodities Authority Prepares Draft of a Resolution on Regulating Digital Assets

The United Arab Emirates’ (UAE) Securities and Commodities Authority (SCA) has prepared a  draft of a resolution on regulating digital assets, which aims to offer more clarity for cryptocurrency-related initiatives in the Middle Eastern country. Comments are being accepted until October 29, 2019. With the… Read More

Fintech Emma Says Some Banks are Not Meeting Open Banking Rules

Beginning September 14, 2019, European Union rules regarding “Strong Customer Authentication” (SCA), part of PSD2, kick in. These rules, which also impact the UK, involve the way in which banks or payment services providers verify their customers’ identity and validate specific payment instructions. Mandated API… Read More

Stripe Announces Acquisition of TouchTech Payments to Accelerate Strong Customer Authentication For Financial Institutions

Payments platform Stripe announced on Wednesday it has acquired Ireland-based Touchtech Payments, a software company, to accelerate Strong Customer Authentication (SCA) for financial institutions. According to Stripe, TouchTech Payments provides advanced SCA-ready authentication technology for some of Europe’s leading fintechs and challenger banks, like N26,… Read More

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