Compass Plus, an international provider of innovative retail banking and electronic payments software to processors and financial institutions, has announced that TranzWare e-Commerce, it's online authentication solution, now supports American Express SafeKey.
TranzWare e-Commerce is an advanced solution that provides reliable Internet transaction checks based on 3D Secure protocol for both issuers and acquirers, complying with and certified in, both the Verified by Visa and MasterCard SecureCode programs. The addition of AmEx SafeKey strengthens the company's efforts to help payment services providers in their fight to reduce card-not-present fraud. 3D Secure initiatives make online shopping transactions safer by authenticating the cardholder's identity at the time of purchase, providing an additional layer of security for all parties involved in the transaction.
"Today's consumers have embraced the convenience of making online purchases, leading to a year-on-year rise in e-commerce transactions. As a result of this growth, the industry has seen a substantial increase in card-not-present fraud which is detrimental to consumer trust," said Maria Nottingham, Executive Vice President at Compass Plus. "With 3D Secure compliance to protect Visa, MasterCard and AmEx cardholders, the TranzWare e-Commerce solution offers financial institutions an added layer of reassurance."