European Payment Fintechs SumUp, Netcetera Team Up on ACS

As online purchases have soared in the last few years, so has the level of online fraud. In 2021, e-commerce fraud in the UK “jumped to GBP 1.3 billion.”

As many merchants make the transition to online stores, “ensuring their transactions are protected is crucial.” The Covid-19 pandemic and developing Fintech trends pushed “the use of debit and credit cards, QR codes and similar for Card-Not-Present transactions, which are easier to compromise.”

On top of this, more and more consumers are “making purchases from mobile devices.”

As the payment protocol 3-D Secure was originally designed for web purchases, there are additional security steps “to be taken for these.” OTO and OOB authentication is now mandated by payment schemes “to ensure that it is really the cardholder making the purchase.”

As a major global fintech player on a mission to support SMEs to run successful businesses by offering financial tools, SumUp wanted “to ensure they had the most powerful, reliable Access Control Server, or ACS, possible, as it is a key part of the authentication process.”

Netcetera, advised them on current requirements for merchants and set them up with a dynamic solution, “allowing small and medium-sized merchants to offer end customers a smooth, secure online shopping experience.”

The solution “supports the highest level of security and minimizes touchpoints in the transaction flow, meaning that the cardholder can skip cumbersome multi-step processes and switching between apps to pay.”

Netcetera’s 14 years of experience “in the 3D-Secure space and SumUp’s innovative power in online finance solutions results in a strong product that is here to stay.”

It is a game changer “for smaller businesses, meaning that they can sell their products online more easily, maximize conversion rates and still offer first-class protection against fraud.”

David Tatarishvili, Head of Business Operations Banking Tribe at SumUp said:

“Our userbase’s security has always been our foremost priority; collaborating with Netcetera ensures that all our merchants, and their customers, are protected against e-commerce fraud and other security risks. By providing SMEs with ACS, it sets up a comprehensive line of defence against cyber criminals, saving merchants both time and money.”

Robert Miskin, Business Development Executive at Netcetera also commented:

“We are thrilled to be standing side by side with SumUp and are looking forward to a long lasting, mutually beneficial partnership. We understand the challenges to prepare for in online commerce and are looking forward to supporting SumUp through their local and global expansion”

Through this partnership SumUp and Netcetera aim “to democratize access to industry leading security solutions for small merchants and make sure that small business owners in the UK have digital solutions available to keep them and their customers safe.”


Register Now to Watch Online
Sponsored Links by DQ Promote

 

 

Send this to a friend