This feature is designed for issuers, processors, and fintech companies working with e-commerce transactions through the Way4 E-commerce Gateway (EGW) and using Way4 Faster Fraud Prevention (FFP).
As part of the latest update to the Way4 E-commerce Gateway (EGW), a dynamic risk-based authentication management feature has been introduced for 3D Secure (3DS) authentication. With this update, Way4 FFP will automatically select the appropriate authentication method for each transaction based on its risk level, applying flexible, customizable rules to make these decisions.
Imagine a customer paying for a $20 purchase through a frequently-used device. The system identifies a low risk level and suggests quick authentication via FaceID. In another case, a $1200 smartphone purchase from a new device is recognized as high-risk, and the system recommends more stringent authentication using a one-time password (OTP).
Before this feature was introduced, banks used a universal 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 selects the most appropriate authentication method from the available options, prioritizing the one that best aligns with the transaction’s risk profile and is authorized for the specific card product associated with the transaction.