Visa Selects Callsign as Preferred Provider of Behavioral Biometric Digital Identity and Device Information. As part of the agreement, Visa will introduce Callsign’s behavioral biometrics and fingerprint solutions to its network of financial institutions, payment service providers (PSPs) and merchants in Europe .
Callsign joins the Visa Fintech Partner Connect program, enabling banks, merchants and the entire card ecosystem to access Callsign’s intelligence-based authentication solutions, which 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 is he authorized to access the service he requests? 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 utility providers to secure and authenticate user identities transparently, preventing fraud at an early stage and leaving only genuine customers to access and complete their services. safe and transparent transactions.
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The deal comes at a time when fraud is skyrocketing, according to a recent report , one in two fraudulent transactions in the finance industry was an account takeover. Distance payment fraud (CNP) accounted for 79% of all card fraud across the single European payments area and, figures from UK finance suggest that in money lost to scams Authorized Push Payment (APP) type amounted to almost 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 safest, most accurate, and transparent user experience to integrate into their solutions. We are happy to join the Visa Fintech Partner Connect to work with the main European fintechs ”, concluded Amir Nooriala , President and Chief Commercial Officer, Callsign.
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