Nok Nok Labs is working with Netcetera to help businesses meet the growing demand for secure digital payment options. Their joint solution will combine Nok Nok’s S3 Authentication Suite with Netcetera’s 3D Secure payment technologies.
The result will be a comprehensive payment product that allows organizations to comply with the latest 3DS 2.x protocols, and with the incoming PSD2 requirements for Strong Customer Authentication. The S3 Authentication Suite will help with the latter, providing customers with passwordless authentication technology that lives up to the strict FIDO standard. The joint solution will also assess the level of risk associated with each transaction.
The two companies noted that the volume of digital transactions has increased during the COVID-19 pandemic, which has in turn created more urgency for e-commerce providers. Nok Nok and Netcetera’s Delegated Authentication solution can scale upward to cover mobile and cloud channels, while simultaneously removing friction from the payment process with one-click authentication. In doing so, it makes shoppers less likely to abandon their purchases, and gives them a convenient way to access financial apps and services on virtually any device.
“Combining solutions from Nok Nok and Netcetera makes it easier for payment processors and merchants to provide compliance, security and convenience at the same time,” said Netcetera Digital Payments Marketing & Innovation Director Kurt Schmid.
“Global banking regulations and COVID-19 buying habits are speeding the demand for secure and easy-to-use authentication solutions,” added Nok Nok Chief Business Development Officer Walter Beisheim. “Nok Nok and Netcetera can now offer a customer experience that doesn’t interrupt the transaction while still meeting global regulations for risk.”
Netcetera recently formed a similar payments partnership with Entrust. Nok Nok, meanwhile, released an updated version of its S3 Authentication Suite in July that offered better support for smart watches. The S3 Suite has also been integrated into the ForgeRock Identity Platform.
(Originally posted on Mobile ID World)