Save by reducing cost of fraud
All cost components of card not present (CNP) fraud can be significantly reduced. Safecypher minimises fraud costs for issuers.
- CNP fraud losses
- CNP management costs
- Lost revenue from abandonment due to challenges
- Cost of challenges
1 out of 5 challenges result in abandonment3. Lost sales impact on revenue.
Authenticate users globally
With Safecypher passive two-factor authentication (2FA), via a dynamic CVV2 that is used to authenticate the user at the start of the payment journey.
- Enhanced security on every transaction
- Authentication on all existing payment cards
- No internet connection required once the service is activated
- Works anywhere in the world 100% of the time
- Provides evidence of suspected first-party fraud
- No impact on legacy systems
- Adds security to any existing risk assessment tool
65% of transactions currently go unchallenged in Europe4. Fraudsters target low value transactions knowing it is cost prohibitive for issuers to pursue these chargebacks.
Provide frictionless flow in Europe
In Europe, all transactions on Safecypher-enabled cards can qualify for frictionless flow in 3D Secure 2 because the cardholder is authenticated for all transactions regardless of value.
- Activation is simple and instant
- Improves effectiveness of transactional risk analysis
- Minimises the need for challenges
- Minimises lost revenue from abandonment due to challenges
- Requires little change to user behaviour
For commercial cards
PSD2 does not cover commercial cards, Safecypher does
Issuers of commercial cards often opt to pay a premium just for secure customer authentication in 3D Secure 2 because there is no other way.
Safecypher is more secure and cost-effective:
- Authenticates commercial cardholders
- Automatic, frictionless two-factor authentication
- Travellers run little risk of fraud
- Cards rarely blocked, especially while abroad