ACI Worldwide has released a number of tools and solution updates for Payment Service Providers (PSPs), acquirers, issuers and merchants for Strong Customer Authentication(SCA) and exemptions.

“The new SCA mandate has major implications for acquirers and merchants, and with the original deadline for the new rules quickly approaching, many are scrambling to manage and stay ahead of SCA,” said Benny Tadele, vice president, Merchant Solutions, ACI Worldwide. “To align with customer demand for fast and frictionless transacting, acquirers and issuers must be able to apply for exemptions where possible. ACI’s solutions give all participants in the payments ecosystem a competitive advantage.”

According to the supplier, the new PSD2 requirement that states that all PSD2 transactions will require SCA for tackling card fraud and protecting payment security credentials’ confidentiality, has forced additional authentication protocols such as the 3D Secure 2.0.

Other tools, resources, and solutions include ACI Proactive Risk Manager- for PSD2 compliance and for strengthening fraud protection and ACI ReD Shield- a fraud prevention solution that aims to address and minimize risks in the authentication process.

It’s recently launched Merchant Guide for PSD2 and Strong Customer Authentication aims to help PSPs, acquirers, issuers and merchants navigate the regulations and is based on ACI’s extensive expertise, provides insights into how these organizations can protect their customers as well as their own reputations and businesses.

Recently, Worldpay has partnered with ACI Worldwide in a bid to utilize its UP eCommerce Payments solution for speeding up the roll-out of Alternative Payment Methods (APMs) to its merchant network spread globally.

by Megha Bhattacharya
Market Analyst at IBS Intelligence