Consumer authentication made simple with EMV 3DS
Stay ahead of the curve with PAAY
Authorization rates drop from 98% for in person transactions to 84% for online purchases; however Visa and MC report up to 10% increase in auth rates with EMV 3DS.
Say goodbye to disputes. Authenticated transactions receive a chargeback liability shift and go straight to the issuer. PAAY authenticates over 90% of transactions.
By 2021, the EU’s Payment Services Directive (PSD2) will require merchants to implement strong customer authentication. PAAY makes PSD2 compliance simple.
Receive full API access
Quickly & easily login to monitor transactions
Dedicated account manager & customer support
How it works
PAAY makes it simple for merchants to receive all the benefits of 3-D Secure without the shortcomings that typically come along with it. Unlike traditional fraud prevention tools or chargeback mitigation companies, PAAY 's solution provides merchants with a liability shift against fraudulent chargebacks. This means there are no disputes - the chargeback does not hit the merchant account.
Our software solution sits on the merchant payment form and allows the acquiring bank (merchant’s bank) to verify with the issuing bank (cardholder’s bank) that a cardholder is in fact who they say they are. This is done before the transaction is sent through for processing via a security check utilizing risk based authentication.
NO IMPACT ON THE CUSTOMER EXPERIENCE
PAAY sits between the shopping cart and the gateway; authenticating transactions in real time with absolutely no lag. Distinct from fraud prevention tools, PAAY does not decline suspicious transactions. All transactions go through as normal. Everything happens in the background with no impact on the customer experience.
Cardholder visits e-commerce site and decides to make a purchase, entering credit card info.
Authentication happens in the background between the payment page and the gateway while the cardholder completes checkout.
Transaction and authentication are complete and sent to processing.