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Payment Transaction Confirmation

PSD2 requires Strong Customer Authentication and Dynamic Linking on most transactions in Europe, which leads to complications for merchants including decreased conversion rates.

LoginID's transaction confirmation solution enables businesses to capture consent through a consistent user experience and provides verifiable proof back to the organization by digitally signing the transaction.

Some examples of sensitive transactions that work well with our solution are:

  • Real-time Payments: As businesses no longer have the luxury of time to review transactions, secure payment confirmation is more critical than ever.
  • eCommerce Transactions: Merchants are constantly fighting the tradeoff between fraud rates and conversion rates, as increasing security measures leads to decreased conversion rates.
  • Peer-to-peer Transactions: P2P are one of the most common transaction types, and are also one of the most common sources of fraud

The user flow is very straightforward. Once a customer has registered, they are shown with the details of the transaction and are prompted to authenticate using their device’s native biometric solution, the same as they would to unlock their device. After confirming their intent to complete the transaction by swiping their fingerprint, facial recognition, or whatever their native prompt is, LoginID generates a digital signature which provides the requestor with verifiable proof that the genuine customer consented to that specific action.

The verifiable proof provided by LoginID confirms the user authorized a specific transaction, thereby eliminating account takeover fraud, friendly fraud, and liar buyer fraud.