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PayTabs deploys Modirum 3D Secure payment solutions

Friday 16 June 2023 10:57 CET | News

Saudi Arabia-based payment solutions provider PayTabs has announced a strategic partnership with a global brand delivering 3D secure solutions, Modirum.

 

The deployment marks a considerable milestone for the advancement of digital payment security in the Kingdom of Saudi Arabia, as the cooperation between the companies seeks to provide flexible, robust, and cost-effective EMV 3D secure authentication solutions for PayTabs’ merchants, banks, and processors across the region.

PayTabs – Modirum collaboration details

As cybercriminals are on the lookout for security lapses, one of their favourite targets represents collecting sensitive payment information from online shoppers. Amongst the key benefits brought forth by 3D secure payments is that it helps prevent payment fraud and identity theft for the end customer and merchant alike. Per the announcement information, a Deloitte report highlights that several Middle East-based organisations struggle with online payment fraud, especially following the start of the pandemic.

Modirum’s 3DS solutions enable PayTabs to provide authentication and verification of users’ identities as a payment processor. This helps ensure secure and simplified digital payments across all devices such as desktops, laptops, tablets, and mobiles. What is more, the software security solution aims to prevent card fraud on merchants’ websites and e-stores to offer ecommerce vendors ‘peace of mind’.

PayTabs deploys Modirum 3D Secure payment solutions

Being certified for Verified by Visa and Visa Secure, MasterCard SecureCode, American Express Safekey, Union Pay and other card schemes, Modirum’s solution provides PayTabs merchants with multiple integration options and APIs to help ensure secure end-to-end transaction processing.

Jari Heikkinen, CEO of Modirum advised that the company is looking forward to cooperating with PayTabs, adding that their 3D Server Solution is leveraged globally and that they hope the partnership to enable continued growth in the region.

Adding on this, Abdulaziz Al Jouf, founder, and CEO of the PayTabs Group advised that together with Modirum, the company is committed to improving digital payments in the Saudi region by providing millions of ecommerce merchants with globally certified 3D Secure solutions. Per the spokesperson’s statement, the collaboration marks a new dimension in payment security and is one step closer to the Saudi Kingdom’s Vision 2030 which seeks to digitise the economy and payment ecosystem.

PayTabs, Modirum strategy and offering

A payment solutions provider, PayTabs processes transactions in multiple currencies and markets in a swift and secure manner. The company helps facilitate ecommerce and social commerce solutions for merchants and super merchants by providing the infrastructure for B2B payment solutions, together with digital invoicing for businesses, QR codes, social media payments, point of sale, and switching platforms.

Activating within the 3D Secure technologies and services sector, Modirum provides a complete range of 3D Secure solutions for issuers, acquirers, processors, payments service providers and merchants to authenticate, secure, and process online payments. Its software and services are leveraged by customers in over 50 countries globally.


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Keywords: partnership, digital payments, cybersecurity, 3-D Secure, EMV, payments , payment fraud, identity theft, online authentication, identity verification, fintech, merchants, ecommerce, digitalisation, payment processing
Categories: Fraud & Financial Crime
Companies: Modirum, PayTabs
Countries: Saudi Arabia
This article is part of category

Fraud & Financial Crime

Modirum

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PayTabs

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