Providing a frictionless and secure checkout experience for the consumer
The revised Payment Services Directive (PSD2) is being introduced on September 14th 2019 which will demand Strong Customer Authentication (SCA) for online payments across Europe. This has significant consequences for any financial organisation with banking apps, digital wallets, and/or ecommerce sites.
SCA demands customer authentication must rely on at least two of the following three elements:
- Knowledge — Something the customer knows, a payment card PIN
- Possession — Something the customer has, a phone or hardware token
- Inherence — Something the customer is, a biometric factor such as facial or voice authentication
MYPINPAD, in collaboration with AimBrain, has developed a solution which meets this requirement in a cost-effective and timely manner by leveraging its PCI SPoC (Secure PIN on Consumer off the Shelf Device), authentication platform.