To be parallel with customer demand for quick and frictionless transacting, acquirers and issuers need apply exemptions wherever possible and the solutions of ACI provides every participants in the transaction ecosystem an advantage.
FREMONT, CA: ACI Worldwide is a recognized, leading global provider of real-time electronic payment and banking solutions. The company recently declared several tools and solution updates to prepare the payment service providers (PSPs), acquirers, issuers, and merchants for Strong Customer Authentication (SCA) and exemptions.
“More customers are turning to a SaaS environment and running their payments out of our state-of-the-art data centers, which deliver the utmost in reliability, security and data privacy,” said Phillip Finnegan, Managing Director Pacific at ACI Worldwide.
By considering the new PSD2 regulations, every electronic online transaction in the European Economic Area (EEA) will entail SCA, built to tackle card fraud and prevent the confidentiality of payment credentials of a consumer. Customers in Europe will have to confirm their identification during an online purchase by providing relevant information such as password, phone number, or fingerprint.
The latest requirement brings the decision to approve a transaction with the issuer that can compel additional authentication protocols leading to significant impacts on customer experience during checkouts. Nevertheless, keeping in mind the new rules, exemptions from SCA can be possible for those who keep their fraud levels under specific reference fraud rates. It will allow transactions under certain thresholds to get off the hook when payment risk analysis is put into play.
Merchant Guide for PSD2 and Strong Customer Authentication platforms were lately launched by ACI to help PSPs, acquirers, issuers, and merchants steer the regulations. The guide, based on the extensive expertise of ACI gives insights regarding the organizations concerning their customer protection and their businesses. ACI serves with numerous additional tools, resources, and solutions, which include ACI Proactive Risk Manager and ACI Red Shield. The proactive risk manager offers prevention and detection abilities in real-time as well as skills to build modified AI-adaptive ML tactical models. On the other hand, the red shield helps in maintaining lower fraud rates with real-time and multi-layered solutions with ML capabilities.
ACI Worldwide was featured as one of the Top 25 Banking Tech Solution Providers of 2018 by APAC CIO Outlook. It is a Universal Payments (UP) company that powers electronic payments for more than 5000 organizations around the globe. With their comprehensive suite of software solutions, they deliver real-time, instant payments abilities, and give a complete omni-channel payment experience to the industry.
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