Payments
Financial institutions and payment networks lock each customer to a unique payments security credential that does not change. Unlike passwords and smartphones, payment security credentials do not exist without the presence of the unique user, so it can’t be misused. Each customer can have only one security credential within the payments industry, putting in place the means to end synthetic fraud in applications.
Fight Synthetic Fraud
The protocol to create a payments security credential ensures that each customer is unique; they can have only one payment security credential across the institution and payment network, preventing the risk of synthetics for accounts and payments.
Diminish Compliance Risk
Demonstrate the highest level of confidence in customer due diligence and transaction reporting using technology that also provides productive and efficient fraud and crime prevention.
Prevent Transaction Fraud
Customer confirmation requires the presence of the unique customer, therefore, unlike attribute- and device-based credentials, payment security credentials cannot be stolen or misused if compromised. Protecting customers and the issuer.
Stop New Account Fraud
Payment security credentials do not change and cannot be shared, stolen or compromised. You link an application and account to a human, not the documents presented.