Visa Selects Callsign as Preferred Device Intelligence and Digital Behavioral Biometric Identity Provider.
Under the agreement, Visa will introduce Callsign’s behavioral biometrics and device fingerprint solutions to the Visa network of financial institutions, payment service providers (PSPs) and merchants across Europe.
Callsign joins the Visa Fintech Partner Connect program giving banks, merchants and the entire card ecosystem access to Callsign’s intelligence-based authentication solutions that positively identify consumers using the inherent behavioral biometrics while detecting and preventing fraud.
Callsign technology helps banks, merchants and PSPs answer two questions; is the user who they say they are? And are they allowed to access the service they request? Using machine learning techniques, Callsign combines behavioral biometrics, device intelligence, and geolocation with multi-factor authentication to help authenticate user identities. This approach helps banks, merchants and PSPs secure and authenticate user identities without friction, stopping fraud early and allowing only genuine customers to access their service and complete transactions securely. and in full transparency.
The deal comes at a time when fraud is skyrocketing, according to a recent report, every second fraudulent transaction in the financial sector was counted. Card Not Present Fraud (CNP) accounted for 79% of all card fraud in the Single European Payments Area and, figures from UK finance suggest money lost to authorized push payment scams (APP ) totaled nearly half a billion (£ 479 million). ) in 2020.
“The need to accurately identify online users for digital payments and online banking is critical given the shift to online transactions over the past 18 months. Financial services organizations are looking for technology that provides the most secure, accurate, and transparent user experience to integrate. We are delighted to join Visa Fintech Partner Connect to work with the biggest European fintechs ”, concluded Amir Nooriala, Commercial Director of Callsign.