22 September 2017
Visit http://response.ncr.com

Swisscard implements Entersekt Transakt 3D-secure tech

26 August 2014  |  2423 views  |  0 Source: Entersekt

Entersekt, an innovative pioneer in transaction authentication, announced that Zurich, Switzerland-based Swisscard AECS AG has implemented its mobile application Transakt to enable safer, more user-friendly 3-D Secure protection of online purchases.

Swisscard is a joint venture between Credit Suisse AG and American Express.

Designed to serve as an added layer of security for e-commerce purchases, 3-D Secure has significantly reduced fraud rates, but has proved unpopular with consumers and merchants owing to the cumbersome user experience of many current implementations. Entersekt's card-not-present authentication solution reinvents the 3-D Secure user experience by enabling consumers to authenticate purchases through their mobile device with the touch of a button.

When shoppers registered for the service initiate a transaction on a 3-D Secure e-commerce web site, they receive a push message on their mobile phone with the payment details. They then authorize the payment, outside of the browser, with a simple “Accept” or “Reject” response. The solution significantly boosts security and eliminates the need to remember complex static passwords or retype one-time passwords.

“As EMV continues to expand overseas, including impending adoption in the U.S., fraudsters are increasingly directing their attention toward card-not-present online transactions,” said Kenneth Eales, head of risk services at Swisscard and executive sponsor of the project. “Swisscard’s partnership with Entersekt enables us to enrich our customer experience by eliminating use of passwords, which are less convenient and less effective against certain forms of fraud, in favor of an advanced one-touch mobile authentication process.”

“Consumers are becoming more reliant on digital technology to meet their shopping needs, and Entersekt saw an opportunity to significantly boost customer satisfaction by overhauling existing 3-D Secure customer registration and authentication processes, which were time-consuming and inefficient,” said Christiaan Brand, chief technology officer at Entersekt. “Transakt eliminates reliance on vulnerable passworakt eliminates reliance on vulnerable password-based security and leverages the user’s mobile device for streamlined authentication. This promises to reduce abandonment rates for online purchases while maintaining 3-D Secure fraud prevention standards.”

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related company information

Credit Suisse

Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.eudownload the paper nowvisit www.sibos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
12698 views comments | 26 tweets | 42 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
11018 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9564 views comments | 6 tweets | 3 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8249 views comments | 18 tweets | 27 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
8148 views comments | 5 tweets | 4 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job