American Express supports next generation of digital commerce With SafeKey 2.0

American Express has announced SafeKey 2.0, the next generation of its online authentication tool built specifically to meet the needs of today’s increasingly digital commerce environment.

SafeKey 2.0

American Express supports next generation of digital commerce With SafeKey 2.0

SafeKey 2.0, which leverages the EMV 3-D Secure 2.0 industry standard, is a global solution that provides an extra layer of security when an American Express Card Member makes a purchase online at a participating merchant.

SafeKey 2.0 includes several enhancements over the existing SafeKey 1.0 platform that can help identify potential fraud in real-time while making it easier for consumers to check out safely across all digital channels.

The updated platform supports authentication methods using biometrics, including fingerprints and facial recognition. It can also be deployed for traditional and emerging commerce channels, ranging from e-commerce websites to in-app purchases made on smartphones and other Internet-connected devices.

The growing adoption of digital commerce has put greater emphasis on the need for merchants and card issuers to continue evolving their fraud-prevention strategies to address emerging threats while ensuring their customers can easily check out online.

SafeKey 2.0 enables merchants and card issuers to exchange more detailed transaction information, which will help to further reduce fraud and eliminate friction when a customer makes a payment by reducing requests for one-time passwords. In addition, SafeKey 2.0 will support card issuers and merchant acquirers in the European Union as they address the Strong Customer Authentication requirements of the Payment Services Directive 2.0.

“The number of consumers making purchases through mobile channels is continuing to grow, and the expected growth of Internet-connected devices will further fuel digital commerce activity,” said Jaromir Divilek, Executive Vice President, Global Network Business, American Express. “SafeKey 2.0 complements American Express’ fraud-prevention capabilities by addressing the evolving needs of merchants, card issuers and Card Members.”

About Author

Leave A Reply