CR2, is committed to empowering banks with innovative solutions that create a seamless customer experience while constantly enhancing digital payments.
CR2 has partnered with M2P Fintech, a global leader in embedded financial infrastructure.
The partnership provides banks with an innovative solution to secure e-commerce payments and prevent ‘card-not-present’ fraud. The objective is simple, increase payment security for bank customers without increasing checkout times unnecessarily.
Online shopping growth continued with a 17.1% increase in global e-commerce in 2021. Retail e-commerce sales exceeded $5.2 trillion USD globally in 2021. As e-commerce transactions increase, so do the possibilities of fraud. Banks need to develop the capability to mitigate fraud while at the same time reduce checkout times and provide their customers with a secure and convenient digital payment experience.
The 3D Secure dynamic protocol authenticates the cardholder during e-commerce transactions to prevent fraud. Strong Customer Authentication (SCA) has increasingly become a key requirement for banks that aid innovative payment services and reinforce security.
This partnership will see M2P’s ACS 3D Secure technology solution integrated into CR2’s platform to improve the card issuing proposition and support secure e-commerce payments. It also provides banks with the flexibility to design a unique authentication process for their customers.
M2P’s highly customizable Payments Authentication platform allows for seamless integrations, thereby enabling advanced authentication options.