NETOPIA Payments, one of the largest online payment processors in Romania, announced the implementation of a new security protocol for online payments that will reduce the time required for their processing.
"Bucharest, June 18, 2020 - Starting last week, NETOPIA Payments, the largest electronic payment processor in Romania, adopted the new 3D Secure 2.0 security protocol, for all merchants enrolled in the platform. According to the company, the entire process went smoothly and without impacting the technical integration of the approximately 20.000 merchant partners.
The new 3D Secure 2.0 security protocol, which is in line with the new European directive on payment services PSD2, brings a number of advantages for both merchants and users, especially from the point of view of mobile payments. The refined design enhances the user experience on mobile devices as it is fully compatible with digital wallet apps or in-app transactions.
Another advantage of the new protocol is the improvement of the debit process, by eliminating pop-out windows or entering static passwords, while respecting the security procedures in place. This is possible thanks to the authentication based on the risk assessment that automatically determines the risk profile associated with that transaction. The merchant platform will only require additional authentication if the risk is high, which is only the case for a small percentage of transactions. This gives customers a smoother and more seamless shopping experience, which will keep them coming back to that merchant's site. On the other hand, merchants benefit from increased protection against fraud and at the same time offer their customers protection against unauthorized transactions.
Also, 3D Secure 2.0 can be used for more than just online transactions. By introducing the option of Authentication without payment, the cardholder can authenticate without being conditioned to make a payment, this being extremely useful in the case of adding cards to electronic wallets.
"We maintain the same goal of being innovative and being among the first to implement the latest technologies. Starting last week, we introduced the new 3D Secure 2.0 security protocol, which we adopted without affecting the activity of our partners in any way, the upgrade being completely carried out by the NETOPIA Payments team. For us, the security of our merchant partners and their customers is of the utmost importance, which makes us always stay abreast of security updates related to online payments," said Antonio Eram, CEO & Founder NETOPIA Payments. "
