<Product enhancement>
Now Way4 can check a counterparty’s country area during a transaction. On the issuer’s side, it detects the country of the acquirer and vice versa. Way4’s existing functionality already included the ability to detect the country where the transaction was initiated, and this release expands on this with new capabilities.
Firstly, this functionality helps payment players to meet geography-related mandates of international payment schemes. For example, usage of Strong Customer Authentication depends on whether all the involved parties reside within the European Economic Area or not. Knowing just the merchant’s location is not enough. Especially in case of e-commerce, a merchant in EEA could be a client of an acquirer from another region or even continent. Therefore, we enabled Way4 to make a separate counterparty check.
Secondly, depending on the counterparty country Way4 can apply various processing rules to the transaction. They could be pre-defined limiters for a card account, special service conditions for a merchant, or other settings that enhance the cost-efficiency and security of your payment business.
