Forter has launched Smart Payments, a new offering designed to increase digital commerce conversion rates and revenue.
The use of 3D Secure (3DS) to meet Strong Customer Authentication (SCA) requirements and reduces friction in the payment process. Smart Payments executes 3DS only when additional validation is needed. Smart Payments simplifies compliance with government regulations including Payment Services Directive Two (PSD2) in the European Economic Area (EEA).
Forter Smart Payments applies the company’s Identity Graph and machine learning to make informed 3DS recommendations. Forter can even execute the 3DS authentication if required by a business. Forter ensures that a transaction is routed for SCA only when necessary, reducing friction for the vast majority of consumers and maintaining PSD2 compliance for merchants doing business in the EEA. In addition, Forter Smart Payments provides visibility into 3DS recommendations, failure and conversion rates and business impact.
“We have successfully partnered with Forter for several years to reduce digital commerce fraud and abuse. When they showed us how they could also increase conversion rates while complying with PSD2, we moved forward,” said Siân Woods, Global Head of Security Operations & Fraud at ASOS. “The results were immediate—we are able to reclaim revenue that otherwise would have been lost to abandoned purchase processes. Smart Payments is a game changer for our business.”
“Forter is committed to driving business outcomes for our customers. Understanding that regulations like PSD2 were complicating their conversion process, we have brought new intelligence to 3DS authentication,” said Michael Reitblat, CEO of Forter. “Smart Payments replaces dated processes and ‘dumb’ 3DS applied to every transaction, with a solution that delivers a streamlined experience to the vast majority of consumers and more revenue for our customers.”
