London, England – August 06, 2015 – The new service will offer merchants unique insight into their fraud risk and online customer activity, helping them to combat fraud and increase conversion rates.
While 3D Secure* (3DS) authentication is a successful and established fraud prevention scheme in the card-not-present environment, some merchants say it contributes to so-called ‘basket abandonment’ (i.e. shoppers abandoning an online purchase before proceeding to pay), and therefore to a reduction in sales.
By using Computop Paygate integrated with Red Shield, merchants will be able to make an informed choice about whether or not to refer a transaction to 3D Secure. All transactions will undergo a thorough risk assessment ahead of any potential call out for 3DS authentication. If the transaction is low risk, the merchant may choose to approve without calling out to 3DS. If it is high risk, it can be declined automatically, avoiding the need to request a 3DS authentication. If the level of risk is ambiguous, then a request can be made for further validation through 3DS, via ReD Shield. This process will give those merchants that have ‘basket abandonment’ concerns the freedom to choose which transactions warrant the added protection of 3DS.
Ralf Gladis, CEO and co-founder, Computop, said, “ReD Shield adds great value to Computop’s fraud solutions. Its in-depth statistics and manual review interface will help our customers simultaneously avoid fraud and improve conversion. What we are offering here is a contextual fraud prevention solution to help assess and act on risk factors before merchants are at the point of no return.”
Andy McDonald, European sales director, Payments and Fraud, ACI Worldwide, added, “We are delighted to partner with Computop. As eCommerce sales continue to rise globally, a growing number of merchants and PSPs recognise the benefits of a reliable online fraud prevention solution, delivered by expert risk analysts and informed by global fraud intelligence. Our solution not only offers a highly sophisticated level of fraud prevention, but enables eCommerce merchants to exercise choice over authentication processes—offering a better customer experience and increasing online sales.”
Note to editors:
*3D Secure authentication is a fraud prevention scheme that is available to all companies using Computop’s payment platform. It allows shoppers to assign a password to their card that is then verified whenever a payment is processed through a shop that supports 3D Secure. The addition of password protection allows extra security on transactions that are processed online. The scheme is a collective of Verified by VISA (VBV) and MasterCard Secure Code (MSC). 3D Secure offers companies liability cover for transactions that are verified by checks.
About ACI Worldwide
ACI Worldwide, the Universal Payments company, powers electronic payments and banking for more than 5,600 financial institutions, retailers, billers and processors around the world. ACI software processes $13 trillion each day in payments and securities transactions for more than 300 of the leading global retailers, and 18 of the top 20 banks worldwide. Through our comprehensive suite of software products and hosted services, we deliver a broad range of solutions for payment processing; card and merchant management; online banking; mobile, branch and voice banking; fraud detection; trade finance; and electronic bill presentment and payment. To learn more about ACI, please visit www.aciworldwide.com. You can also find us on Twitter @ACI_Worldwide.