Callsign joins the Visa Fintech Partner Connect program
Visa chooses Callsign, as their preferred behavioral biometric digital and device intelligence identity provider. Under the agreement, Visa will introduce Callsign’s behavioral biometric and device fingerprinting solutions to the Visa network of financial institutions, payment service providers (PSPs), and merchants across Europe.
Callsign joins the Visa Fintech Partner Connect program giving banks, merchants and the wider card ecosystem access to Callsign's Intelligence driven authentication solutions which positively identify consumers using inherent behavioral biometrics whilst detecting and preventing fraud.
Callsign technology helps banks, merchants and PSPs to answer two questions; is the user who they say they are? And are they permitted to access the service they are requesting? Using machine learning techniques Callsign combines behavioral biometrics, device intelligence and geo-location with multi-factor authentication to help authenticate users’ identities. This approach helps banks, merchants and PSPs to secure and authenticate users’ identity frictionlessly, stopping fraud early and only letting genuine customers access their service and transact safely and seamlessly.
The agreement comes at a time of spiraling fraud, according to a recent report, every second fraudulent transaction in the finance industry was account take over. Card not present fraud (CNP) accounted for 79% of all card fraud across the Single European Payments Area and, figures from UK finance suggest that in the money lost to Authorized Push Payment (APP) scams totaled nearly half a billion (£479 million) in 2020.
"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 organizations 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,” concluded Amir Nooriala, Chief Commercial Officer, Callsign.
