Secure Trading is working together with internet security platform Citizen to secure proof of consent for card-on-file. Citizen will also provide Strong Customer Authentication to provide chargeback defence for friendly and general fraud.
As per new rules from Visa, implemented in October 2017, and upcoming PSD2 regulation, merchants, payments processors and digital wallet operators must seek cardholder consent for initial storage of details, and flag transactions using appropriate stored credential indicators.
Citizen has developed an SaaS platform, enabling companies to acquire provable consent from their customers in accordance with the new standards. The company also enables SCA using biometrics to validate customers, reducing both chargebacks and fraud.
This new partnership allows Secure Trading to aid its merchants in navigating the changing landscape, ensuring it can offer the best possible service to its own customers, while reducing losses to chargebacks and fraud.
Jonathan Hawkins, director of account management at Secure Trading, said: “By partnering with Citizen, we can offer our merchants a quick-to-rollout but highly effective solution that will help with a number of existing and upcoming industry challenges. At the same time, they will help these merchants to offer a superior service to their own customer base. We want to show our merchants how they can increase engagement with their customers, whilst reducing their own potential exposure to fraud and chargebacks.”
James Neville, CEO of Citizen, added: “The world of customer engagement and payments continues to mature and become more complex. Citizen provides a solution to numerous challenges that this may present. By deploying Citizen, merchants can remove the need for passwords across their digital estate, simplify registration and onboarding down to ‘one touch,' and provide GDPR compliant solutions to authenticate, validate and gain consent for customer data. Our goal is to help merchants reduce both fraud and friction.”
