The PSD2 deadline of September 14th has passed, but some e-commerce companies still have time to implement SCA for online card transactions (possibly up to 14 March 2021). As such, for those who still need to implement SCA, all of the information below still applies.
In this blog we give you a quick summary of what you need to know, what you need to do, and the solutions we provide to ensure all-important Strong Customer Authentication (SCA).
Read our free guide
We advise that you have a read of our free guide that tells you how you can comply and increase conversions at the same time.
You can also have a read here about how the Financial Conduct Authority requests companies to minimise disruption to customers.
And familiarise yourself with our products that solve the problem!
Inherence can be authenticated using our best-in-class facial recognition solution BioMatch, which has been shortlisted for the upcoming Payment Awards Best Use of Biometrics!
Meanwhile lost passwords for accounts, or clunky password steps that annoy customers can be mitigated against by using ProfileiD which allows customers to authenticate themselves via a social channel.
Rather than cause disruption to customers this actually reduces friction and increases onboarding and conversions, because customers can verify themselves quicker.
Validate Mobiles and Emails
PSD2 is designed to reduce fraud, but for Strong Customer Authentication to really work, the ‘Possession’ element should also be checked i.e. validate mobile phone numbers that are being used to receive codes by using Mobile Validate.
You can find out more about how Mobile Validate will ensure SMS verification for SCA actually work by clicking here.
Equally, for customers without a mobile phone who will receive authentication steps via email, which the FCA require to be secure, these addresses can be checked using Email Validate. This solution ensures they are active and legitimate, without sending any message, in order to reduce the risk of fraud within this channel.
All available as a single API
All of our solutions are available via a single universal API, which makes integration exceptionally easy (at a time when things are getting more complicated!) and it also means we can get you set up in a few days.
Get in touch, we can help!
Get in touch here to see how our solutions minimise disruption, and actually suit customers so much so that they increase conversions – while enabling PSD2 compliance – by booking a quick hassle-free demo here.