Network International launches its 3-D Secure platform in the Middle East
Network International, the preferred card solutions provider and the largest acquirer in the region, has announced the launch of its 3-D Secure issuing platform for clients in the Middle East. Network International is one of the first providers to offer the 3-D Secure internet card payment solution in the region.
The 3-D Secure solution adds an extra element of security to online transactions by tying the financial authorization process with an additional online authentication at the time of the transaction. This authentication is based on a three domain model (hence the 3-D given name). Once a user has successfully registered, a password is generated to be used as an extra layer of security designed specifically for online transactions.
As a result of new partnership between Network International and Arcot Systems, Inc., the de facto global leader in secure e-Payment and authentication solutions, Arcot will provide the installation and management of A-OK. Network International's hosted services branding for e-Commerce. Arcot's A-OK for e-Commerce further enhances the level of protection for all parties and meets the highest level of PCI standards and DSS security.
"Arcot is pleased to partner with Network International to bring 3-D Secure cardholder fraud prevention and authentication services to their clients in the Middle East. With ten years of experience in this market and over 120 million users, Arcot leads in providing quick implementation and management of the 3-D Secure hosted services solution." said Jonathan Gill, vice president of Arcot International.
Ram Chari, CEO of Network International added: "We are delighted to introduce 3-D secure that will help to build up online transaction protection and help us provide customers with another means to combat chargebacks and credit card fraud, particularly for online transactions. It is an excellent and tested solution, and we are pleased to work co-operatively with Arcot to offer it to our customers who benefit from a localized, cost effective 3-D Secure service as this strategic initiative continues to gain momentum worldwide."
Two of the leading financial institutions in the region have already signed up to take advantage of Network International's 3-D Secure solution.
Network International's 3-D secure issuer platform also offers further options for different layers and types of security. One of the key options of the platform is the One Time Password (OTP) authentication. OTP, is only valid for a single login session or transaction, and is assigned to a customer's credit or debit card, increasing their protection against potential card fraud, and is tailored for mobile transactions.