Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U), the payment technology partner of thriving brands, announces it has enhanced its payment authorization platform to include a smart and dynamic solution for Strong Customer Authentication (SCA) compliance. The Company now offers a variety of customization options to ensure compliant and optimized payment processing flows.
Merchants who have not transitioned from 3D Secure 1 (3DS1) to 3D Secure 2 (3DS2) must implement a compliant solution prior to the enforcement deadline for Payment Services Directive 2 (PSD2) SCA, starting December 31, 2020 in the EU, or face potential fines and a decline in acceptance rates. For merchants who have not yet implemented 3DS2, the transition may seem daunting and burdensome, with the prospect of processing issues potentially affecting acceptance rates, presenting a significant concern. Nuvei’s solution ensures its clients’ transactions remain secure and optimized, even during times of regulatory changes.
Nuvei enables existing and new customers alike to take advantage of its fully compliant and customizable solution. Merchants can now define a set of criteria to route transactions to 3DS2 or 3DS1, as long as the latter is commercially available. Merchants can also define rules to avoid routing transactions to 3DS entirely for trusted or returning customers.
“Our approach to SCA is to minimize the level of complexity for merchants and their clients to provide a seamless payment experience,” said Philip Fayer, Nuvei’s chairman and CEO. “Our goal is to optimize transactions and ensure the best possible conversion rates, while maintaining the highest levels of security.”
Nuvei offers several mechanisms to keep merchants’ acceptance rates high and avoid possible fallout from the transition to 3DS2. The solution offers continued support for 3DS1 to prevent acceptance rate decreases. Merchants can choose to automatically cascade 3DS2 and 3DS1, so that in case 3DS2 authentication fails, the customer is asked to authenticate via 3DS1. The solution is also fully agnostic and allows 3DS authentication to be performed using Nuvei’s proprietary 3DS authentication services, or via several other authentication services; these, too, can be set to cascade. By configuring cascading rules, merchants can safeguard against technical downtime and combat authentication decline. It also offers optimal 3DS user experience for customers, preventing cart abandonment and promoting a swift payment process.
For new and existing merchants, integration is easy, via a hosted payment page, API, or SDKs. Once integrated, a dedicated SCA dashboard and comprehensive reports are available, including high-level analytics as well as transaction-level deep-dives. To ensure onboarding success, Nuvei offers complimentary expert in-house consultation, traffic optimization and risk analysis services.