Secure Trading are working together with internet security platform Citizen to secure proof of consent for card-on-file. Citizen will also provide Strong Customer Authentication (SCA) to provide chargeback defence for friendly and general fraud.

An opportunity to reduce chargebacks and fraud

Visa’s new rules were introduced in October 2017; companies were given until the end of April 2018 to comply. Upcoming PSD2 regulation will only increase the requirements that merchants must consider moving forward. Merchants, payments processors and digital wallet operators must seek cardholder consent for initial storage of details, and flag transactions using appropriate stored credential indicators. This has been implemented to improve transparency in the payments industry as a response to the growth and diversification of digital commerce.

Citizen have developed a SaaS platform enabling companies to acquire provable consent from their customers in accordance with the new standards required by Visa and PSD2. Citizen also enables SCA using biometrics to validate customers – reducing both chargebacks and fraud. Secure Trading have seized this as an opportunity to aid their merchants in navigating the changing landscape, ensuring they can offer the best possible service to their own customers, whilst significantly reducing losses to chargebacks and fraud.

Among the numerous use cases that Secure Trading and Citizen can offer, some of the most effective are simple-to-deploy, easy-to-manage consent solutions for online transactions, and friendly fraud solutions for subscription-based services.

Jonathan Hawkins, Director of Account Management at Secure Trading, believes these services will be invaluable for their client base. “By partnering with Citizen, we can offer our merchants a quick-to-rollout, but highly effective solution that will help with a number of existing and upcoming industry challenges. At the same time, they will help these merchants to offer a superior service to their own customer base. We want to show our merchants how they can increase engagement with their customers, whilst reducing their own potential exposure to fraud and chargebacks.”

James Neville, CEO of Citizen, added: “The world of customer engagement and payments continues to mature and become more complex. Citizen provides a solution to numerous challenges that this may present. By deploying Citizen, merchants can remove the need for passwords across their digital estate, simplify registration and onboarding down to ‘one touch’, and provide GDPR compliant solutions to authenticate, validate and gain consent for customer data. Our goal is to help merchants reduce both fraud and friction.”

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