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SIA and INFORM roll out new digital solution for e-commerce payments

By Megha Bhattacharya

November 13, 2020

  • Europe
  • Sia
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SIA has launched a new digital service for banks, payment service providers and other financial institutions across Europe. The new development will allow customers to speed up their authentication process for online payments while complying with the PSD2 security standards. The service will be powered by INFORM-developed risk evaluation system, RiskShield.

“Joining forces with INFORM, we help our customers to speed up the adoption of Strong Customer Authentication for safer online purchases. We integrated in our infrastructures an advanced solution to be rapidly implemented and to quickly ensure PSD2 compliance. Furthermore, consumers benefit from the real-time transaction risk analysis with fast and frictionless online shopping, leading to a simple and secure user experience” commented Gabriele Boni, Global Service Line Cards Director at SIA.

The partnership between SIA and INFORM will provide a fraud-fighting infrastructure that is capable of analyzing risks in real-time for every payment transaction through a scoring engine. SIA will now be able to offer a step-up verification service for suspicious e-commerce transactions, allowing frictionless payments for low-risk activity.

Recently, SIA announced that it will be enabling banks, corporates, public administration bodies and FinTechs for the new service “Request to Pay” (R2P) on EBA Clearing’s technology infrastructure, compliant with the European Payments Council (EPC) scheme.

“Our ability to provide RBA to both issuers and acquirers has given us a unique position on the market” claims Roy Prayikulam, Senior Vice President Risk & Fraud at INFORM. “INFORM’s multi-channel approach to fighting fraud, together with SIA, has proven to be successful and we look forward to helping more financial institutions meet the PSD2 compliance regulations. I am certain this partnership will continue to flourish and look forward to many more joint projects” continued Prayikulam.

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