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Mobeewave reveals 3DS contactless payment solution for merchants

Tuesday 21 April 2020 12:35 CET | News

Mobeewave has revealed it is launching a suite of new features that remove current contactless payment limits for merchants and consumers, using its tap-to-phone tech.

The company’s solutions enable businesses to accept contactless payments by tapping a card or a digital wallet onto the back of an NFC-enabled mobile device, without the need for dongles, card readers or additional hardware. 

For tap-to-phone payments, entering a PIN on the screen of a merchant’s mobile device presents a number of challenges, such as requiring additional hardware for PIN entry and the fact that today, PIN for contactless is not supported in some countries including Canada, France, and the UK. PIN entry also presents additional user experience and security challenges when entering a personal PIN number on someone else’s device.

Mobeewave Limitless is a full suite of high value transaction contactless tap-to-phone features that cater to the varied authentication challenges, regulatory environments, and Cardholder Verification Method (CVM) requirements across North America, Europe, and APAC. It includes a secure PIN-based solution and one that leverages a user’s CVV number to authenticate their payment. In addition, one solution in the Mobeewave Limitless portfolio leverages 3-D Secure 2.0, a newly released security standard that is used for online CNP transactions, effectively removing the need for a PIN to be used to authenticate the cardholder during a tap-to-phone payment. Combined with a card tap, Mobeewave’s 3DS solution combines authorisation with authentication methods without the need for PIN, enabling a high value contactless transaction by initiating a 3DS check, which provides an authentication request to the consumer on their own device.  This solution also shifts the chargeback and fraud liability from the merchant to the card issuer.

 


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Keywords: Mobeewave, launch, Mobeewave Limitless, contactless payment solution, merchants, 3DS, authentication, authorisation, NFC, PIN, CVM, verification, chargeback, fraud
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions