Privakey is pleased to announce the launch of its PSD2 Strong Customer Authentication (SCA) solution. Privakey CX is designed to prevent shopping cart abandonment and declined transactions. Using Privakey to address SCA compliance gives financial institutions and merchants an opportunity to actually improve customer experiences.
Privakey CX is a software utility that optimizes the customer experience when transactions require SCA enforcement. Purchase confirmation and account login are two of the most common transactions that now require multiple factors of user authentication. Privakey greatly simplifies transaction flows and the user authentication process.
In discussing Privakey’s PSD2 SCA solution, Privakey CEO Charlie Durkin said, “Our PSD2 compliant solution is designed to eliminate what merchants fear most about SCA – shopping cart abandonment. The customer experiences a transaction flow that is intuitive, simple, consistent, and contextual. Privakey eliminates out-of-band codes and other inconvenient authentication methods typically associated with SCA. Banks and merchants that adopt our solution will delight their customers while also complying with the new regulation.”
Built on a foundation of asymmetric cryptography, device biometrics, and an easy to integrate API, the Privakey solution enables merchants and banks to comply with PSD2 SCA requirements without disrupting their customer journey.
For more information about Privakey, visit https://www.privakey.com/psd_2