American Express launches SafeKey 2.2 security solution

By Robin Amlot

The newest iteration of American Express’ security solution is based on the latest global industry standard, EMV® 3-D Secure, to detect and help reduce online fraud. SafeKey 2.2 provides an extra layer of security for merchants, issuers and consumers when a purchase is made through web browsers or in-app.

It supports merchants with their compliance with PSD2 regulations, whereby full Strong Customer Authentication (SCA) requirements must be applied to all e-commerce transactions involving EU/EEA issued cards used at merchants in the EU/EEA from 1 January 2021, except where a national regulator has established a revised enforcement date.

With e-commerce now accounting for almost one third of all retail sales in the UK, SafeKey reduces friction and helps create a more seamless customer experience. SafeKey benefits merchants at what is a challenging time for many of them, by helping to reduce basket abandonment and supporting consumer confidence in spending online. It also offers merchants greater protection against fraud.

When using SafeKey, EU/EEA American Express Cardmembers have the option to use ‘Express List’, which allows Cardmembers to select merchants with whom they have previously shopped to be marked as a ‘Trusted’.  This is classed as an exemption for PSD2-required SCA and can further reduce checkout friction as Cardmembers will not need to undertake SCA for merchants on their Express List.  SafeKey provides the merchant with their ‘Trusted’ status.

Judy Nguyen, Vice President of Network Product Development & Management at American Express, said: “Given the accelerated growth of online shopping, providing a frictionless yet secure checkout experience has never been more important, so we’re delighted to be able to support our network of merchants with the latest iteration of our SafeKey product. SafeKey 2.2 offers merchants a flexible way to manage Strong Customer Authentication whilst leveraging the latest technology to create an optimal and secure experience for the consumer, merchant and issuer alike. SafeKey 2.2 follows the industry standard EMV 3DS approach, giving retailers and merchant service providers the ability to undertake integration for all major participants at once, saving them crucial time and resources.”