Cleveland, OH (PRWEB) June 23, 2015
CardinalCommerce, the global leader and pioneer enabling digital commerce, announces that they are the sole provider of the newest 3-D Secure protocol, ELO Compra Segura (Secure Shopping), offering Consumer Authentication for merchants to accept credit and debit cards for eCommerce in Brazil.
With One Connection to Cardinal via the Super API(TM), Cardinal Consumer Authentication (CCA) leverages the benefits of all the brands. CCA allows merchants to authenticate their consumers using Verified by Visa, MasterCard SecureCode, MasterCard SecureCode+, American Express SafeKey, JCB J/Secure, Diners Club ProtectBuy, UnionPay, Maestro and now, ELO Compra Segura.
“Cardinal is excited to bring our Consumer Authentication technology to the Brazilian market with our newest partner, ELO. With CCA, merchants and banks will be able to significantly improve their authorization rates, accept more card-not-present transactions with confidence, and provide consumers with a safe, friction-free checkout experience. We, in real-time, using our collaborative approach, can compare what the banks know about their consumers (KYC) and what the merchants understand about their consumers, to yield the best results,” said Cardinal CEO Mike Keresman.
ELO, a Brazilian brand with more than 20 million cards issued and accepted by 1.4 million brick and mortar merchants, is developing their presence in the online channel by securing a 3-D Secure license from EMVCo for eCommerce. They have selected Cardinal as the first Solution Provider to offer the ELO Compra Segura service.
In order to address the concerns associated with the explosive growth of eCommerce – and online fraud -- within South America and Brazil, ELO has decided to implement 3-D Secure. By choosing Cardinal, merchants in the region can deploy CCA and leverage all of the 3DS brands, including ELO CS.
Some facts about eCommerce in Brazil:
Brazil is the largest eCommerce market in Latin America, and is one of the top 10 eCommerce markets in the world. In 2013, Brazil’s eCommerce grew 28%, and in 2014, continued its double digit growth rate at 24%. eCommerce growth in Brazil is expected to jump from US$17.8 billion in 2014 to US$40.8 billion in 2019, according to Forrester Research. The number of online buyers is expected to increase from 33.5 million in 2014 to 61.8 million by 2019. 100 million Brazilians are internet users and 61% have purchased online.
As eCommerce is growing in Brazil, so is fraud. More than 33% of Brazilian credit card users claimed to be a victim of some sort of fraud in the year 2013. Brazil’s eCommerce fraud rate is 11%, compared to the average eCommerce fraud rate in the US of less than 1%. In Brazil, chargebacks can be done up to 12 months after the date of purchase, and nearly 100% are lost.
Mobile commerce is also growing at a high rate in Brazil. In 2014, mobile devices represented 9.7% of all eCommerce transactions processed in Brazil, with 20.1% of Brazilians using smartphones, the highest percentage in Latin America. 40.8% of Brazilian mobile users access the internet via their phones.
CardinalCommerce is the pioneer and global leader in enabling authenticated payment transactions in the card-not-present payments industry since 1999. Through One Connection to the proprietary Cardinal SafeCloud(TM) payment platform, we enable 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.