back Back

PhiCommerce bags EMVCo approval for advanced payment solutions

By Gloria Mathias

October 16, 2023

  • a payment technology company based in India has announced the grant of 3D Secure Server (3DSS) 2.2 approval by EMVCo for its payment technology solutions.
  • American Express
  • Cross Border Payments
Share

PhiCommerce, Pune, Digital India, Payments Solutions, UPI, Singapore, Cross-border Payments, Payments Certification Solutions, India, PhiCommerce, a payment technology company based in India has announced the grant of 3D Secure Server (3DSS) 2.2 approval by EMVCo for its payment technology solutions.

The payments company can leverage its EMVCo certification to provide an integrated 3DSecure authentication mechanism within its next-generation payment stack.

EMVCo is a global consortium that facilitates the worldwide interoperability and acceptance of secure payment transactions. 3D secure (3DS) is a de facto two-factor authentication standard across international payment schemes like VISA, Mastercard, American Express, Discover, UnionPay etc. 3DS enables global businesses to reduce payment fraud, enhances transaction success rates, lowers operational expenditures, and reduces card abandonment rates.

The 3D Secure server 3DSS 2.2 certification, offered by EMVCo, ensures that PhiCommerce’s payment platform inherently offers the latest security and authentication standards for online transactions.

The EMVCo 3DSS 2.2 certification brings forth several compelling advantages for PhiCommerce’s clients around the globe:

  • Enhanced Security: With 3DSS 2.2 certification, the payment platform can offer an additional layer of security for online transactions reducing the risk of payment fraud. All this while reducing operational expenses for businesses.
  • Improved User Experience: Users of the payment solutions can expect a smoother and more seamless payment experience, ensuring higher transaction success rates and reducing cart abandonment.
  • Global Compatibility: The certification aligns the payment solutions with global payment standards, making it easier for PhiCommerce’s clients to expand their businesses internationally while adhering to regulatory requirements.
  • Future-Ready Solutions: This certification will enable the payment platform to adapt to evolving payment technology trends, ensuring that PhiCommerce’s clients continue to receive innovative and evolving payment authentication modes like fingerprint, biometric, and more.

Rajesh Londhe, Co-Founder and Head-Payments, PhiCommerce said, “Obtaining the EMVCo 3DSS 2.2 certification is a testament to our unwavering mission of enabling frictionless and secure omnichannel payment experiences for both businesses and end users. This milestone underscores our capability to provide high-tech, secure, efficient, and globally compatible payment authentication solutions in an integrated manner with our own proprietary payment stack.”

Previous Article

October 16, 2023

Gala Technology teams up with Nuapay & Apple Pay for new payment gateway

Read More
Next Article

October 16, 2023

NMI acquires Sphere’s commercial division to expand underwriting capabilities

Read More






IBSi Daily News Analysis

June 21, 2024

a payment technology company based in India has announced the grant of 3D Secure Server (3DSS) 2.2 approval by EMVCo for its payment technology solutions.

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 21, 2024

MECCA & Adyen to offer a seamless payments experience in Australia

Read More

June 21, 2024

Vipps, MobilePay launch cross-border P2P payments in the Nordics

Read More

June 21, 2024

FinTech Focus: Catch latest developments of the week

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023