Computop’s Biometrics to assist merchants in simplifying 2FA process

Ralf Gladis, CEO at Computop

European payments company, Computop, has announced its PSD2 compliant biometric authentication service, Biometrics, in a bid to assist merchants in taking over the Strong Customer Authentication (SCA) from banks, thereby avoiding their own two-factor payment authentication (2FA) process. It is also expected to allow merchants and retailers to mitigate issues associated with the 2FA process.

“Biometric authentication can be applied to app or shop logins in order to avoid fraudulent account takeovers. This also helps the customer experience, because biometric authentication is so much better than a typical PIN-TAN process,” said Ralf Gladis, CEO at Computop.

According to the supplier, Biometrics is FIDO-standard and PSD2 compliant and allows merchants to apply for a biometric authentication at an early stage in the shopping process. Following which, a digital signature is generated which can be transmitted to issuers together with other 3D Secure 2.0 data as proof that the merchant has already applied PSD2-compliant strong customer authentication.

“For merchants, there is increased complexity with the number of different authentication methods used by banks, but if they are able to process strong consumer authentication themselves, the customer journey will be standardized and easier to support. In addition, the whole process is GDPR compliant, and consumers can be confident in knowing that biometric data will never leave their own device. Computop’s solution will verify cryptographic keys but will never touch cryptographic data.”

Established in 1997, Computop offers its customers around the world local and innovative omnichannel solutions for payment processing and fraud prevention. The Computop Paygate payment platform enables integrated payment processes for e-commerce, at POS, and on mobile devices.

Computop’s Biometrics will be available as a cloud service for access control, for login procedures and for payment authentication and the biometric authentication payment process will be made available post the PSD2 deadline, i.e. September 14th.

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