The Exemption Engine for Strong Customer Authentication (SCA)
uses machine learning to help reduce friction and cut costs for
online merchants
LONDON, June 4, 2019 /PRNewswire/ -- With the PSD2
requirement for Strong Customer Authentication (SCA) going into
effect on Sept. 14, 2019, Worldpay,
Inc. (NYSE: WP) will launch the Exemption Engine for Strong
Customer Authentication (SCA) for merchants operating in the
European Economic Area (EEA) to reduce friction from the online
checkout experience.
Under the SCA requirement, only an acquirer can file exemptions
with issuers on behalf of the merchant. Worldpay's Exemption Engine
for SCA, which requires little-to-no integration, is a
first-of-its-kind solution that employs machine learning to apply
the most applicable SCA exemption to an individual payment. The
Exemption Engine for SCA's predictive model is built by analyzing
Worldpay's market-leading payment data in the region as well as
proprietary issuer profiles, which inform the solution's
decisioning.
"With a successful exemption strategy that can also adapt
through machine learning, our merchants can prepare for the SCA
mandate," said Asif Ramji, chief
product and marketing officer at Worldpay, Inc. "Exemption Engine
for SCA can help reduce friction during online checkout by asking
for an exemption from SCA where possible. Further, as both the
acquirer and gateway provider for a merchant, Worldpay can do the
transactional analysis to select and apply the best-case exemptions
because we have the full view of the payment lifecycle."
Exemption Engine for SCA works by reviewing eligible exemptions,
such as a low-risk transaction, then performing a real-time risk
assessment based on shopper, merchant, issuer and payments data –
such as buying patterns, deep device fingerprinting, geolocation,
issuer preferences, and anomaly detection-focused machine learning.
Eligible transactions are then exempt from SCA and may continue
onto the issuer for swift authorisation1.
Exemption Engine for SCA, coupled with Worldpay's 3DS Flex which
supports both the latest 3DS2 (EMV 3DS) as well as the traditional
3D Secure (3DS) authentications2 can help merchants
reduce costs and complexity by leveraging a true end-to-end service
through a single provider.
Worldpay's Exemption Engine for SCA can help reduce the number
of transactions a business needs to route via two-factor
authentication. If a merchant has also subscribed to Worldpay's 3DS
Flex solution, those transactions not eligible for an exemption
will be authenticated to ensure compliance within the scope of
PSD2.
Exemption Engine for SCA will be available ahead of the
September regulatory deadline, and merchants can subscribe to 3DS
Flex now. Further, later this year, Worldpay will expand FraudSight
to businesses across the globe, allowing them to turn up their
level of security. FraudSight is Worldpay's next generation
omni-channel global fraud detection solution which uses AI and
machine learning to prevent fraud and can enhance SCA
compliance.
Worldpay is working extensively with regulators, industry
associations, issuers, payment networks, partners and merchants to
help the industry prepare for PSD2. For more information on
Worldpay's solutions designed to help merchants comply with PSD2:
the Exemption Engine for SCA, 3DS Flex and FraudSight, visit
Worldpay's guide to see what's coming, when it's coming, and how to
prepare: https://www.worldpay.com/global/psd2
About Worldpay
Worldpay, Inc. (NYSE: WP) is a leading
payments technology company with unique capability to power global
omni-commerce. With an integrated technology platform, Worldpay
offers a comprehensive suite of products and services, delivered
globally through a single provider. Worldpay processes over 40
billion transactions annually, supporting more than 300 payment
types across 146 countries and 126 currencies. The company is
focused on expanding into high-growth markets and customer segments
including global eCommerce, integrated payments and B2B. Visit us
at www.worldpay.com.
References:
1 Subject to issuer
acceptance of that exemption.
2 The new standard of authentication introduced by
the major card brands.
For more information, please contact:
Worldpay,
Inc.
Emily Lahey, Director of Marketing
Communications
Emily.Lahey@worldpay.com
+44 (0) 203 664 5663
Siobhan Acha Derrington
Siobhan.Derrington@worldpay.com
+44 (0) 203 664 4822
