Payments giant Visa has chosen RegTech company Callsign to be its proffered behavioural biometric digital and device intelligence identity provider.
This deal will see Visa implement Callsign’s behavioural biometric and device fingerprinting solutions to its network of financial institutions, payment service providers and merchants across Europe.
Callsign’s technology helps firms ensure the user is who they claim to be and if they are permitted to access what they request. Through machine learning, the technology combines behavioural biometrics, device intelligence and geo-location to offer multi-factor authentication of people.
Callsign CCO Amir Nooriala said, “The need to accurately identify users online for digital payments and online banking is critical due to the shift to online transactions in the past 18 months. Financial services organisations are looking for the technology that provides the most secure, accurate and seamless user experience to incorporate into their solutions.
“We are pleased to be joining the Visa Fintech Partner Connect to work with Europe’s leading FinTechs.”
Visa made this deal during a period where fraud rates are rising. It claims that card not present fraud accounted for 79% of all card fraud across the Single European Payments Area.
Furthermore, UK finance claims authorised push payments totalled £479m in 2020.
Copyright © 2021 FinTech Global