Global payments solution provider Checkout. com has received its 3DS 2.3. 1. certification by EMVCo, to offer improved payment solutions and to reduce fraud.

Following this certification, Checkout. com’s Authentication tool will provide customers and merchants with an improved experience: the company will be authorised to use proprietary artificial intelligence (AI) in order to roll out payment authentication support in a safer and more efficient way, fighting the risks of fraud and chargebacks. Furthermore, this comes as an important step into Checkout.

com’s plan to provide their clients with improved possibilities for reducing and eliminating online threats, as well as the improvement of their payment performance. The firm invested in its products, which, according to the press release, resulted in a 213% YoY increase in volume for its Standalone Authentication tool and a 98% YoY increase in merchant and trade adoption across its Authentication tool. The latest 3DS protocol was designed to offer solutions for the several weak points of the payment industry, including reduced payment performance, increased card abandonment, as well as customer friction.

Clients won’t need the process of switching from a trader’s payment page to their bank application manually in order to verify the transition anymore, as in the 3DS 2. 3. 1.

protocol introduced an automated process that can identify the user’s bank and redirect them to the application directly. Furthermore, EMV 3DS 2. 3.

1. integrated new authentication methods as well, such as the Secure Payment Confirmation (SPC), WebAuthn, and other offerings and capabilities that were designed to focus on reducing fraud. This happened with the introduction of FIDO-based biometric authentication, aiming to improve the overall customer experience.

Checkout. com’s strategy of development UK-based payments service provider Checkout. com offers its customers multiple services and products that were designed to meet their needs, preferences, and demands.

The 3DS 2. 3. 1.

certification represents a continuation of Checkout. com’s process of developing multiple new products, as the company currently works on building its Payments Plus offerings, which follow the Authentication enhancements announced last year. Additionally, more tools include customisable virtual and physical cards with issuing, Fraud Detection Pro services (which offer merchants the capability to combat fraud and optimise their revenues), and Integrated Platforms (a fully flexible solution that was designed to provide marketplaces, industries, and sellers with the needed products for them to develop in the evolving global digital economy).

In May 2023, the company partnered with UAS-based fintech Mamo for its flagship product Mamo Business. The deal offered Mamo the possibility to further accelerate the growth and development of SMEs in the MENA region’s digital economy. In March 2023, Checkout.

com launched its card issuing service, which enabled businesses to issue physical and virtual cards while providing financial solutions products. The Issuing tool aimed to optimise and unlock revenue through an effortless integration process, removing the complexities associated with adding financial products and enabling businesses to go live with card programmes in a faster and more secure manner. Earlier in the same month, the company announced its decision to enable instant money transfers from Australia, Hong Kong SAR, and Singapore via Mastercard Send.

.