ACI Worldwide Readies European Payments Businesses for Strong Customer Authentication
July 29 2019 - 3:00AM
Business Wire
New European PSD2 requirements significantly
impact how European consumers and businesses buy and sell
online—ACI’s UP solutions with real-time, multi-layered
capabilities help businesses to lower fraud rates while providing a
frictionless checkout experience
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time electronic payment and banking solutions, today announced
a number of tools and solution updates to ready payment service
providers (PSPs), acquirers, issuers and merchants for Strong
Customer Authentication (SCA) and exemptions.
Under the new PSD2 regulations, all electronic online
transactions in the European Economic Area (EEA) will require SCA,
designed to tackle card fraud and protect the confidentiality of
payment security credentials for consumers when purchasing goods
and services online. From September 14, 2019 onward, all European
consumers will need to confirm their identity for the majority of
their online purchases, using two of the following: something they
know (e.g., a password), possess (e.g., a phone), or are (e.g.,
their fingerprint). Regulators have indicated a potential extension
to the September deadline.
This new requirement puts the ultimate decision to authorize a
transaction with the issuer, which can force additional
authentication protocols – like 3D Secure 2.0 – that would impact
customer experience during card-not-present checkout. However,
under the new rules, exemptions from SCA are allowed for those that
can keep their fraud levels under specified reference fraud rates;
this allows payments under certain thresholds to be exempted when
transaction risk analysis has been applied.
“The new SCA mandate has major implications for acquirers and
merchants, and with the original deadline for the new rules quickly
approaching, many are scrambling to manage and stay ahead of SCA,”
said Benny Tadele, vice president, Merchant Solutions, ACI
Worldwide. “To align with customer demand for fast and frictionless
transacting, acquirers and issuers must be able to apply exemptions
where possible. ACI’s solutions give all participants in the
payments ecosystem a competitive advantage.”
ACI recently launched a Merchant Guide for PSD2 and Strong
Customer Authentication to help PSPs, acquirers, issuers and
merchants navigate the regulations. The guide, which is based on
ACI’s extensive expertise, provides insights into how these
organizations can protect their customers as well as their own
reputations and businesses. ACI has several additional tools,
resources and solutions including:
ACI Proactive Risk Manager In order to comply with PSD2
and strengthen fraud protection, many financial institutions
utilize the latest version of ACI’s Proactive Risk Manager, which
offers real-time prevention and detection capabilities. Proactive
Risk Manager can integrate with Issuers’ Access Control Servers and
PSPs’ and Acquirers’ Payment Gateways to deliver SCA and exemptions
in real time. Centralizing authentication and authorization
messages results in a best-in-class solution along with the ability
to create bespoke AI adaptive machine learning tactical models for
TRA scoring.
ACI Red Shield To qualify for SCA exemptions, merchants
and the PSPs that support them need to maintain low fraud rates.
ACI ReD Shield is a powerful real-time, multi-layered fraud
prevention solution that provides the means to address and minimize
risk in the authentication process, while at the same time protect
merchants’ genuine customers, enhance brand reputation and maximize
conversion. ReD Shield includes machine learning, positive/negative
behavior profiling and consortium data from tens of thousands of
global merchants and financial institutions, as well as rule
strategies that can be flexed in real-time in a simple tool.
About ACI Worldwide ACI Worldwide, the Universal Payments
(UP) company, powers electronic payments for more than 5,100
organizations around the world. More than 1,000 of the largest
financial institutions and intermediaries, as well as thousands of
global merchants, rely on ACI to execute $14 trillion each day in
payments and securities. In addition, myriad organizations utilize
our electronic bill presentment and payment services. Through our
comprehensive suite of software solutions delivered on customers’
premises or through ACI’s private cloud, we provide real-time,
immediate payments capabilities and enable the industry’s most
complete omni-channel payments experience. To learn more about ACI,
please visit www.aciworldwide.com. You can also find us on Twitter
@ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2019 ACI, ACI Worldwide, the ACI
logo, ACI Universal Payments, UP, the UP logo and all ACI
product/solution names are trademarks or registered trademarks of
ACI Worldwide, Inc., or one of its subsidiaries, in the United
States, other countries or both. Other parties' trademarks
referenced are the property of their respective owners.
Product roadmaps are for informational purposes only and may not
be incorporated into a contract or agreement. The development
release and timing of future product releases remains at ACI’s sole
discretion. ACI is providing the following information in
accordance with ACI's standard product communication policies. Any
resulting features, functionality, and enhancements or timing of
release of such features, functionality, and enhancements are at
the sole discretion of ACI and may be modified without notice. All
product roadmap or other similar information does not represent a
commitment to deliver any material, code, or functionality, and
should not be relied upon in making a purchasing decision.
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version on businesswire.com: https://www.businesswire.com/news/home/20190729005024/en/
Katrin Boettger E-mail: katrin.boettger@aciworldwide.com Phone:
0044 (0)7776 147 910 Dan Ring E-mail: dan.ring@aciworldwide.com
Phone: 781-370-3600
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