Execute payments with
Strong Customer Authentication (SCA)
Priviti’s patented solution can enable you to execute payments with better than traditional Strong Customer Authentication (SCA) methods and ensure strongest compliance with PSD2.
PSD2 and Open Banking aim to introduce secure methods to enable individuals and SMEs to initiate payments using services provided by regulated entities.
Current efforts to introduce standards have led to each bank creating unique user journeys, resulting in a lack of interoperability, which has led to poor customer experience and low levels of adoption.
Current efforts to introduce standards have led to each bank creating unique user journeys, resulting in a lack of interoperability, which has led to poor customer experience and low levels of adoption.
Current methods to share bank account information with service providers are based on the use of credential sharing, resulting in security issues and a lack of transparency around who is accessing account data and why. PSD2 and Open Banking require access tokens containing explicit consents granted to the third party provider by the payment services user.
Priviti provides real-time creation, distribution, and management of consent access tokens, issued on behalf of a financial institution and that meet and surpass PSD2's Strong Customer Authentication (SCA) guidelines.
Priviti provides real-time creation, distribution, and management of consent access tokens, issued on behalf of a financial institution and that meet and surpass PSD2's Strong Customer Authentication (SCA) guidelines.
Users of Priviti can obtain an independent, immutable audit trail that provides all interested parties (including banks, regulators and legal authorities) with a full system of record for all transactions and activity that has taken place.
This ensures fast, efficient and secure payment initiation with a great user experience. Customers' account details are provided for the payment transaction but are never seen by merchants.
This ensures fast, efficient and secure payment initiation with a great user experience. Customers' account details are provided for the payment transaction but are never seen by merchants.
Priviti never sees, shares or sells your customers’ personally identifiable information.
BENEFITS FOR YOU
Reduce operational costs, disputes, manual processes and risk, with automated systematic consent capture, recording & management and compliant data transfer.
Increase revenue and UX: with superior customer growth, loyalty, experience, product offerings and trust, in turn generating larger transaction volumes and values.
De-risk third-party data sharing & collaboration and onboard partners quickly.
Benefits for your customers
Increase their control over how, when and why data is shared, fully confident their private information remains confidential.
Enhance security - with Priviti data is only transferred if specific consent has been obtained.
Reduce risk of sensitive data being stored and exposed.
Contact us
How can we help?
Contact the Priviti team today to learn how
we can help your company manage granular
consent for data sharing and transactions.
we can help your company manage granular
consent for data sharing and transactions.