This feature is designed for issuers, processors, and fintech innovators handling e-commerce transactions through the Way4 E-commerce Gateway (EGW) in conjunction with Way4 Faster Fraud Prevention (FFP).
The latest update to the Way4 EGW brings dynamic risk-based authentication management for 3D Secure authentication. With this enhancement, Way4 FFP intelligently selects the most suitable authentication method for each transaction based on its risk level. It applies flexible, customizable rules, ensuring a seamless yet secure payment experience.
How it works
- A customer makes a $20 purchase on a frequently-used device. The system assesses the transaction as low-risk and suggests a quick authentication via FaceID.
- A $1,200 smartphone purchase from a new, unknown device is flagged as high-risk. The system recommends a stricter authentication method, such as a one-time password (OTP).
Previously, banks used a one-size-fits-all approach to Strong Customer Authentication (SCA) with three main options: (1) decline the transaction, (2) authenticate without triggering SCA, or (3) initiate SCA.
With the new update, Way4 FFP dynamically selects the optimal authentication method from available options, ensuring alignment with the transaction’s risk profile and compliance with permissions set for the specific card product involved. Issuers, processors, and fintech innovators enhance security, improve the customer experience, and reduce friction in e-commerce transactions, all while adhering to evolving regulatory requirements.
