Consumer credit firm NewDay has selected and deployed RSA Adaptive Authentication for eCommerce. The solution delivers advanced fraud protection for digital payments and addresses the requirements of the EMV 3-D Secure protocol.

In particular, RSA says that its Adaptive Authentication for eCommerce helps card issuers and payments processors prevent more than 95% of fraud in card-not-present (CNP) e-commerce transactions. Moreover, it aims to provide a frictionless authentication and shopping experience for cardholders.

CNP fraud is on the rise globally and is expected to reach $6.4bn by 2021 in the US.

“At NewDay, our customers are at the heart of everything we do, and as they continue to embrace eCommerce, we are committed to investing in innovation that provides the most secure and seamless experience,” says Allan Kite, Director of Architecture & Solutions.

According to RSA, its Adaptive Authentication for eCommerce eliminates the 100% challenge rate, static passwords and cardholder enrolment with approximately 95% of average transactions unimpeded by the EMV 3-D Secure verification process.

PSD2 compliance and unparalleled fraud detection

The solution delivers close to a 100% transaction approval rate while keeping fraud rates low. It also addresses the requirements for the EU’s Second Payment Services Directive (PSD2), providing a paramount customer experience and an unparalleled level of fraud detection.

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“As organisations continue to pursue digital transformation initiatives, they must also prepare to manage the digital risks that come with innovation,” says Jim Ducharme, VP Identity and Fraud & Risk Intelligence Products, RSA Security. “eCommerce innovations like mobile pay and digital wallets provide convenient payment options but also create unprecedented risks.

“RSA Adaptive Authentication for eCommerce empowers card issuers and processors, like NewDay, to manage these digital risks and prevent fraud without compromising the customer experience. As PSD2 drives changes in technical infrastructure at financial institutions across Europe, RSA is working to help organisations meet not only the technical challenges but also secure the future of digital payments.”

New Day is the card issuer behind the UK Amazon Mastercard, as well as credit cards from retailers including Debenhams, House of Fraser, Laura Ashley and Argos.

It has over 5 million credit card customers in the UK, who spent £5.8bn on their cards in 2019.