American Express will launch its next generation of online authentication system, SafeKey 2.0, early next year with support for biometrics technology and mobile commerce.
Leveraging the upgraded EMV 3-D Secure e-commerce security standard, SafeKey 2.0 technical specifications are currently available for merchants, issuers and other partners.
“The number of consumers making purchases through mobile channels is continuing to grow, and the expected growth of internet-connected devices will further fuel digital commerce activity,” Jaromir Divilek, executive vice president of global network business at American Express, said in a Nov. 2 press release.
This week, EMVCo established security enhancements through
In seeking to improve the 3-D Secure concept from its original slow, grinding format for consumers to input various amounts of data, EMVCo has moved toward making the security standard a far
In the same vein, Amex says SafeKey 2.0 includes several enhancements over the existing SafeKey 1.0 platform that can help identify potential fraud in real-time while making it easier for consumers to check out safely across all digital channels.
The updated platform, which will launch in the spring of 2018, supports biometric authentication methods including fingerprints and facial recognition. It can also be deployed for traditional and emerging commerce channels.
SafeKey 2.0 also enables merchants and card issuers to exchange more detailed transaction information, which will help to further reduce fraud and eliminate friction when a customer makes a payment by reducing requests for one-time passwords.
In addition, SafeKey 2.0 will support card issuers and merchant acquirers in the European Union as they address the Strong Customer Authentication requirements of the
