Cleveland, OH (PRWEB) May 05, 2014
CardinalCommerce and The Fraud Practice announce the results of the first-ever survey on Consumer Authentication. This inaugural survey, which takes a 360 degree view of the payments eco-system, provides rich information on the attitudes about and adoption of Consumer Authentication today.
Among the responses, it was discovered that the overwhelming impression of merchants currently using Consumer Authentication is positive. Other findings of note include:
David Montague, President of The Fraud Practice, says “With EMV coming into the U.S. market, fraud is more likely to move to the online sales channel with the roll out of chip cards. The need to understand the value and set expectations for implementing Consumer Authentication has never been more timely, which is why we’re excited to team with Cardinal in presenting the inaugural Consumer Authentication Survey."
Mike Keresman, Chief Executive Officer at Cardinal, says “We believe in Consumer Authentication, and we are happy to see that the payments industry supports it and sees its benefits, too. Our Consumer Authentication solution delivers more sales than traditional authentication protocols and stand-alone fraud screening. Merchants can have all the benefits of Verified by Visa, MasterCard SecureCode, MasterCard SecureCode Plus and other protocols, while enhancing the consumer experience with one simple connection that can FutureProofTM a merchant’s payment needs and requirements. Consumer Authentication is the next level of using authentication; in essence it creates in real-time a virtual collaboration between what the banks and merchants know about that consumer and transaction. The result is increased orders, improved margins and an enhanced consumer experience.”
Cardinal and The Fraud Practice will also present these survey results via a webinar, scheduled for Thursday, May 8 at 2:00 p.m. Eastern Time. David Montague, President of The Fraud Practice, industry expert and survey author, will serve as moderator. To register for the webinar, visit: http://info.cardinalcommerce.com/learn-about-the-state-of-consumer-authentication
In this Consumer Authentication Survey, more than 400 people responded, representing constituents across the payments industry: merchants, acquirers and payment solution providers (including gateways), card associations, issuers, and fraud/eCommerce providers.
The merchant respondents, 40% of the total, are split evenly between merchants using Consumer Authentication and those not using it. Company size of merchants was also diverse, with 55.4% of responses coming from companies with more than $50 million in revenue, 27.3% coming from companies with less than $5 million in revenue, and the remaining 23% falling between $5 and $50 million in revenue. The remaining respondents are as follows: 28.4% are acquirers and PSPs; 23.7% are fraud and eCommerce service providers; 4.1% are card associations; and 3.8% are issuers.
To download the complete report, visit http://info.cardinalcommerce.com/consumer_authentication_checklist-0
CardinalCommerce has been a pioneer and global leader in enabling authenticated payment transactions in the card-not-present payments industry since 1999. Through one connection to our proprietary SafeCloudTM payment platform, CardinalCommerce enables friction-free, technology-neutral authentication and alternative payment services (including digital wallets and mobile commerce services). Cardinal services, partners with and complements most providers in the marketplace to deliver their one connection solution to secure transactions. In accommodating this growing number of payment brands and methods, Cardinal's platforms serve as universal switches, supporting virtually all merchant platforms, wallets, legacy processing systems and authentication methodologies.
CardinalCommerce is headquartered in Cleveland, Ohio and services a worldwide Customer base from facilities in the United States, Europe and Africa. For more information, visit http://www.cardinalcommerce.com.
About The Fraud Practice
The Fraud Practice is a privately held US LLC based in Sarasota, Florida. The Fraud Practice provides consulting services on eCommerce payments, fraud prevention, and credit granting as well as prepared research and training for payment and fraud professionals. Businesses throughout the world rely on The Fraud Practice to help them build and manage their payment, fraud, and risk prevention strategies.
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