Eliminate fraud and grow your online business. iSignthis Ltd (ASX : ISX) offers Merchant Protect, our unique, patented solution that can authenticate all credit or debit card transactions originating from any card scheme and issuing bank combination. We achieve this by establishing Evidence of Identity (EOI), linking the account owner to any specific transaction that is required to be authenticated. Our EOI process is remote, automatic, scalable, and incorporates the issuer's security systems using our patented 'out of band' process.
This process can be used to remotely identify customers to meet AML/CTF legislation KYC requirements.
Merchant Protect secures the Card Not Present (CNP) space, and provides complete authentication coverage across all card types, no matter where the transaction originates.
PSPs and Merchants : Don't go down the route of expensive and difficult integration with card scheme specific solutions such as Verified by Visa or Securecode. By using our authentication service and mitigating your fraud risk profile, there is now no need to limit the card schemes you may safely accept and process on behalf of your customers.
As e-commerce becomes increasingly global, business needs confidence to transact with customers located anywhere. Expanding reach is critical, as is prodding the widest range of schemes accepted. Merchant Protect allows PSPs and merchants to confidently grow their CNP transactions originating from any IP device or smartphone. We assist you and your eMerchants to expand reach whilst increasing confidence and trust.
Cardholders are presented with an intuitive registration process to enroll their card and link their mobile phone. Subsequent or follow on authentication is via one time password sent by SMS to the linked phone and confirmed back to us by the cardholder. We can also incorporate soft or hard authentication tokens, and will interface with Open Identity Exhange (OIX) protocols. Our EOI process can bind your choice of technology to the identified person.
Merchants can now transact cross border and with foreign customer with confidence, with risks mitigated via our completely automated authentication process.
Importantly, we provide a solution that authenticates transactions originating from any card scheme, via a single integration at the PSP (or larger merchants).
Merchant Protect is a card scheme agnostic authentication system, that opens up global opportunities whilst reducing fraud.
See also iSignthis Ltd website .
Meets the European Central Bank's (ECB) February 2014 / EBA's December 2014 requirements for strong customer authentication for the SEPA/EU28 Security of Internet Payments. The iSignthis services assist operators to comply with the US FDIC Guidance on mobile payments and US FFIEC 2011 Guidance on Authentication.
Single point integration at PSP or Merchant via cloud solution. One integration for all card types, providing global protection for merchants and cardholders alike.
More than 30++ Card Schemes
No pre-enrolment of card necessary - natively authenticates any card, from any issuer, from any card scheme (AMEX/ JCB /Visa/ MasterCard/ Discover/ China Union Pay/ Diners/Carte-Bancaire). A card scheme agnostic solution that provides global card coverage.
No pre-checkout friction. No additional pre-sale completion key strokes. Customers don't leave the merchant's website prior to checkout. These factors mean a negligible abandonment rate and far fewer lost sales.
Using issuer's KYC
iSignthis uses standard payment transactions and embeds one time passwords within the data message to initiate the EOI process. These OTP's are transmitted 'in band' during transaction processing, and are available only to the card holder by accessing their mobile, telephone, online, ATM or OTC account. The cardholder response is decoupled for security via an out of band response consistent with the US FFIEC 2011 Guidance on Authentication.
Uses the Issuer'S Security
No request for personally identifiable information (PII) from merchants or their customers. The system relies upon the issuing institution's portal security and face to face KYC. Only the account owner can authenticate transactions, whilst not being required to disclose any PII (other than standard payment data) or completing any intrusive sign up processes.
Cardholders are challenged to access their familiar and trusted banking portals to retrieve the OTP's. It also minimises revenue leakage as well as mitigates fraud. Operational costs are reduced by the automating of manual KYC or anti fraud checks.
PSPs and merchants now have an alternative authentication system to 3DSecure which provides automatic global coverage without requiring pre-enrolment, whilst meeting the ECB's February 2014 requirements.
iSignthis also complies with consumer codes such as the Australian Securities and Investment Commission's ePayments Code.
© 2013-2015 iSignthis Ltd. All rights reserved. Merchant Protect and iSignthis are registered trademarks of iSignthis Ltd (ASX : ISX). iSignthis Ltd. | Patent applications pending/granted in Africa, Australia, Asia, America's, Europe and Oceania. International WIPO Patent Application No : PCT/AU2011/000377.