Fime Asia receives accreditation from Visa

Wednesday 11 October 2023 14:53 CET | News

Fintech Fime Asia has received its accreditation from Visa to support vendors in validating the Level 2 compliance of their contactless payment terminals. 

Through this, solution providers in the APAC region can access a local comprehensive place for all their payment compliance requirements, supporting them in streamlining the testing process, optimising time to market, and reducing costs. 

Fintech Fime Asia has received its accreditation from Visa to support vendors in validating the Level 2 compliance of their contactless payment terminals.

Fime’s capabilities with the accreditation

The accreditation allows Fime to further advance its testing services globally, helping stakeholders ensure the compliance of their terminals and encouraging innovation within the payment ecosystem. According to officials, Fime aims to simplify and accelerate the certification process for the APAC market by providing industry participants with the means to develop new payment methods.

Fime Asia enables a wide range of lab and testing services to stakeholders in the region, with the latest accreditation expanding its product offering. The company provides comprehensive Level 1, Level 2, Level 3, and biometric testing for payment cards, devices, and acceptance terminals across the majority of international and domestic payment schemes. Fime delivers global expertise at a local level, customising solutions and test plans to the requirements of the market in which it operates. 

More information about Fime

Fime allows its clients to develop and launch secure solutions with consulting and testing services in payments, smart mobility, biometrics, authentication, and Open Banking. The company provides a global cross-industry perspective, local insight, and heritage in testing and certification, with its consultants offering business expertise, and partnering with organisations worldwide to design and deliver their products and services.

Recently, AFSOL selected Fime for a five-year partnership that aims to allow the former to increase its digitalisation of payments. Fime will provide consultancy and testing services for AFSOL to support nexo standards compliance, with the two companies also planning to drive alignment with major global payment scheme requirements.

Moreover, at the beginning of August 2023, the company announced that it was selected by Bangladesh Bank to support the launch of the nation’s domestic card scheme. In addition to providing consulting and testing services, Fime will also set a certification body framework during the six-year partnership. By establishing an independent payment infrastructure, Bangladesh Bank may be able to develop a stable, sovereign economic platform that can offer financial security to its customers.

In July 2023, Fime also revealed its EMVCo qualification to support 3DS Directory Server (DS) and Software Development Kit (SDK) testing in line with the latest EMV 3DS specs. Through this, the company’s platform can be used by vendors looking to migrate to 3DS v2.3.1.1 (EMV 3-D Secure), which integrates improved support for Secure Payment Confirmation (SPC) and automated out-of-band (OOB) authentication features. The upgraded version aims to promote secure and convenient ecommerce authentication and further reduce card abandonment.  

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Keywords: payments , payments infrastructure, certification, Open Banking, compliance, payment methods
Categories: Payments & Commerce
Companies: Fime, Visa
Countries: Asia
This article is part of category

Payments & Commerce




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