3D Secure is a hot industry topic as MasterCard and Visa re-engineer to 3Ds 2.0 in the coming months. American Express is on par, as this announcement on biometrics in American Express’ Safekey 3DS explains.
3DS is a bit awkward in today’s environment but the next version will be streamlined. All brands work
Credit card giant American Express has added a biometric login feature to its Safekey 3D Secure platform.
In a statement, AmEx said its updated platform supports authentication methods including fingerprints and facial recognition.
Tokenization and biometrics certainly add a layer of protection to payment cards; expect to see more developments in this sector.
SafeKey 2.0 complements American Express’ fraud-prevention capabilities by addressing the evolving needs of merchants, card issuers and Card Members.”
Remember, though fraud is about adding in protection layers. EMV chips thwart counterfeit fraud. Predictive analytics shield issuers from improper use. 3D Secure adds protection at the point of sale, to reaffirm the authentication cycle and also to shield the transaction as it passes back and forth through the network.
Overview by Brian Riley, Director, Credit Advisory Service at Mercator Advisory Group
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