Implementing Strong Customer Authentication (SCA) has complex challenges for merchants in the UK and across EU countries. What is becoming fast apparent, however, is that this is an important part of the new payments landscape and needs to be tackled intelligently.
Balancing the demands of compliance with the need to maximise the customer experience is a rigorous exercise, so merchants will need to refine their payment processes, focusing on the end user experience, and aim to complete this well before the extended EBA deadline for EU countries of 31 December 2020 which falls at the end of the peak period for online shopping.
Providing a seamless and secure experience that reduces friction, increases revenue and manages additional two-factor authentication (2FA) costs is of paramount importance. In support of SCA and 2FA, customers are now required to be authenticated by two independent factors. Typically, this is managed through 3D Secure (3DS). Other benefits of 3DS include potential cost savings from more efficient processes, including exemption routing, preferred acquirer assessments at the transaction level.
Better use of technology, including machine learning, can facilitate incisive understanding of customer behaviours and needs. Similarly, dynamic and concise data capture and analysis can create insights that enable merchants to minimise friction whilst also delivering faster detection of improper behaviour to target fraudsters without negatively impacting the customer experience.
Join this webinar from Finextra, in association with Accertify, to hear experts discuss:
- How business models can be optimised by using technology and data to glean better insight into customer behaviour and needs
- How to overcome the challenges of SCA implementation and what to look for in your technology partner
- The use of technology to facilitate compliance in an agile and cost-effective manner
- Gary Wright – Head of Research, Finextra
- Andy Mortland – Vice President of Product, Accertify Inc.
- James Pinborough – Product Manager, Global Payment Solutions, Regulation, Accertify Inc.
- Miles Cheetham – Head of Propositions, Open Banking
- Richard Dupree – Senior Vice President, Group Operational Risk, Bank of the West