LONDON | Computop has implemented American Express Safekey on its Paygate payment platform as one of the first international payment services providers. American Express SafeKey, acting similar to MasterCard SecureCode and Verified by Visa, offers online merchants additional protection against card-not-present fraud on American Express cards.
Context: American Express Safekey
American Express SafeKey is a so-called 3D Secure authentication tool that reduces online fraud by confirming the cardholder's identity with an additional password. Upon payment checkout at an AMEX Safekey enabled online merchant, the cardholder needs to enter their password to prove to the merchant and issuing bank he or she is the legitimate owner of the credit card. In a real-time, online process the password is verified by the cardholder's bank. If the password matches, the payment is authorised and the merchant and shopper get instant approval. The merchant then gains protection for potential chargebacks (customer wants to undo the transaction) as a result of fraudulent use of the card.
Making it more safe for merchants to accept American Express online
The partnership between Computop and American Express SafeKey provides additional advantages for online merchants and retailers. The solution enhances the current merchant's fraud prevention solution without additional costs. When a shopper pays online using American Express SafeKey, merchants are not at risk in the event of a fraud related dispute. Merchants are guaranteed of payment and can minimise fraud losses and operational costs normally related to these kinds of disputes.
American Express SafeKey Demo Video
Please visit the American Express SafeKey website for more information. Click the image below to view the American Express SafeKey Demo.
American Express Profile
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Check out American Express profile on About-Payments to see what Payment Service Providers support merchants to accept American Express online.
Computop is a leading global payment service provider (PSP) that provides compliant and secure e-commerce, Point of Sale (PoS), m-commerce and Mail Order and Telephone Order (MOTO) payments globally. The company, founded in 1997, is headquartered in Bamberg, Germany, with local teams in the US, UK and China. Computop processes transactions totalling $9+ billion per year, for over 2800 large international merchants within industries such as retail, travel and gaming. Global customers include C&A, Fossil, Metro Cash & Carry, Samsung and TUI. Check out Computop's profile in our Knowledge-Base to see what online payment methods and features they support and to view their latest company news.