Adyen updates authentication solution

Thursday 16 March 2023 14:53 CET | News

Fintech Adyen has advanced its digital authentication solution for optimising authorisation, security, and end revenue aiming to drive conversion uplift for its customers.


As they were engineered to optimise authorisation and, implicitly, end revenue, the company’s extended capabilities include Delegated Authentication, Data-Only, and Trusted Beneficiaries functionalities. Turning regulatory challenges into opportunities, the company’s authentication ecosystem combines security and simplified checkout experiences having the goal of driving growth for digital businesses.

Adyen’s offering and how it aims to drive conversion uplift

Adyen is looking to expand the capabilities of its platform, and these authentication innovations aim to showcase its commitment to finding new avenues that enable the growth of its digital customers. Commenting on the announcement, Trevor Nies, Global Head of Digital Strategy at Adyen advised that as a partner, the company identifies opportunities for addressing and simplifying regulatory challenges on behalf of global businesses. As per their statement, the Delegated Authentication, Data-Only, and Trusted Beneficiaries functionalities embody the mentality of turning complexity into conversion and are believed to help decrease friction for Adyen customers.

Adyen implemented the Delegated Authentication technology in regions where Strong Customer Authentication (SCA) is required as an additional option for simplifying authentication while simultaneously remaining compliant. Although a multitude of digital authentication flows is cumbered with friction, including redirects, Delegated Authentication enables Adyen to fully authenticate the consumer on behalf of the issuer, offering an improved cardholder experience while remaining within the merchant checkout page. To be able to maintain high-security standards while also providing ease of use, Delegated Authentication lets shoppers utilise two-factor authentication, leveraging biometric checks like fingerprint recognition and facial scans, as well as device-bound credentials. As per the press release, Delegated Authentication was expanded to include iOS and Android users, from only web browser users.

Fintech Adyen has advanced its digital authentication solution for optimising authorisation, security, and end revenue aiming to drive conversion uplift for its customers.

To further address customer needs in regulated markets, Adyen advanced its Trusted Beneficiaries functionality, which enables shoppers at checkout to simultaneously add a business to their list of trusted companies. Following the designation of a business as ‘trusted’, shopping will no longer have to re-authenticate when purchasing from them, which is believed to bring forth added convenience to the consumer together with increased conversion to the business.

In regions where strict authentication regulations are not in place, Adyen is looking to better authorisation rates leveraging its Data-Only feature. When a transaction where customer authentication is not mandatory is executed, such as in the US or Brazil, the company is enabled to share authentication data with schemes to help them make increasingly informed authorisation decisions. By making use of Data-Only, businesses can extend their decision-making resources and increase conversion, while reducing fraud.

In line with its approach of building upon its single platform, the company is looking to continue the broadening of its global authentication capabilities, and with the evolution of technology, businesses can leverage it for the optimisation of authorisation in mandated and non-mandated markets alike. What is more, as Adyen’s updated solution has been driving conversion uplift in ongoing pilots of up to 7%, the company is looking to further demonstrate the value of authentication towards driving revenue.

A financial technology platform, Adyen provides end-to-end payment capabilities, data-driven insights, and financial products in a single global solution, aiming to help businesses achieve their ambitions in an expedited manner.

For more information about Adyen, please check out their detailed profile in our dedicated, industry-specific Company Database.

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Keywords: product upgrade, online authentication, two-factor authentication, biometric authentication, platform, ecommerce, shopping, merchants, data sharing, conversion, fraud prevention, cybersecurity, compliance, customer experience, financial services, payments , regulation
Categories: Fraud & Financial Crime
Companies: Adyen
Countries: World
This article is part of category

Fraud & Financial Crime


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