SIX Payment Services integrates American Express SafeKey

Friday 9 May 2014 07:16 CET | News

Switzerland-based processor of card-based payments SIX Payment Services has entered a strategic alliance with American Express.

Under the terms of the agreement, SIX will integrate American Express SafeKey into its Saferpay payment platform as the first payment service provider in the German-speaking market.

American Express SafeKey is a 3D Secure authentication tool that reduces online fraud by confirming the cardholder’s identity with an additional password. Upon payment checkout at an AmEx SafeKey enabled online merchant, the cardholder needs to enter their password to prove to the merchant and issuing bank he or she is the legitimate owner of the credit card. The password is verified by the cardholder’s bank. If the password matches, the payment is authorised and the merchant and shopper get instant approval. The merchant then gains protection for potential chargebacks (customer wants to undo the transaction) as a result of fraudulent use of the card.

Online merchants already using the Saferpay payment solution from SIX Payment Services can activate SafeKey. The integrated merchant plug-in conducts the cardholder verification during checkout.

SIX Payment Services provides financial institutions and merchants with services along the entire value chain of cashless payments. Their solutions include settlement of domestic and international card and interbank payments. Additional services range from Swiss Interbank Clearing to electronic billing and direct debit processing. With around 1,200 employees and 14 locations worldwide, SIX Payment Services supports clients in 33 countries.

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Keywords: SIX Payment Services, American Express, SafeKey, online fraud, online authentication
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime