Visa chooses Callsign, as their preferred behavioural biometric digital and device intelligence identity provider. Under the agreement, Visa will introduce Callsign's behavioural biometric and device fingerprinting solutions to the Visa network of financial institutions, payment service providers (PSPs), and merchants across Europe.
Callsign joins the Visa Fintech Partner Connect programme giving banks, merchants, and the wider card ecosystem access to Callsign's Intelligence-driven authentication solutions which positively identify consumers using inherent behavioural biometrics whilst detecting and preventing fraud.
Allowing genuine access via MFA
Callsign technology helps banks, merchants, and PSPs to answer two questions; is the user who they say they are? And are they permitted to access the service they are requesting?
Callsign combines behavioural biometrics, device intelligence with MFA to help authenticate users' identities
Using machine learning techniques Callsign combines behavioural biometrics, device intelligence, and geo-location with multi-factor authentication to help authenticate users' identities.
This approach helps banks, merchants, and PSPs to secure and authenticate users' identities frictionlessly, stopping fraud early and only letting genuine customers access their service and transact safely and seamlessly.
Need for secure and accurate user experience
The agreement comes at a time of spiralling fraud, according to a recent report, every second fraudulent transaction in the finance industry was account take over.
Card, not present fraud (CNP) accounted for 79% of all card fraud across the Single European Payments Area and, figures from UK finance suggest that in the money lost to Authorised Push Payment (APP) scams totalled nearly half a billion (479 million) in 2020.
"The need to accurately identify users online for digital payments and online banking is critical due to the shift to online transactions in the past 18 months. Financial services organisations are looking for the technology that provides the most secure, accurate, and seamless user experience to incorporate into their solutions. We are pleased to be joining the Visa Fintech Partner Connect to work with Europe's leading fintech," concluded Amir Nooriala, Chief Commercial Officer, Callsign.