12 May Card providers launch authentication frameworks in SA
Two payment card providers are rolling out new authentication frameworks in South Africa, helping to support seamless, secure payments.
Visa unveiled its Digital Authentication Framework (DAF) in April this year, while Mastercard intends to launch its Token Authentication Framework (TAK) in 2024.
According to Visa, its new framework means that once a customer has been authenticated on a merchant platform, all subsequent payments will be carried out in line with the DAF rules. It has also made issuers liable for fraud on authenticated transactions provided they meet the DAF requirements.
The new authentication frameworks will help to deliver faster checkouts without compromising on security.
Elizabeth Graham, Product Manager of Payments at Entersekt, explained the new systems will have “the express purpose of significantly reducing unnecessary payment friction while still ensuring customer security.”
Entersekt, a digital payments anti-fraud solution provider, last year announced it had signed a deal with a South African bank to enable payment security with behavioural biometrics from NuData – a Mastercard subsidiary.