Get a Two-in-One Deal: 3-D Secure v2 Compliance and an In-House Acquiring Platform

Now financial institutions can hit two major milestones at the same time: become compliant with 3DS v2 and launch their own acquiring engine. This is made possible by WAY4, a top-ranked digital payments platform by OpenWay.

There is no doubt about it: 3DS v2 is here to stay. All merchants and issuers have their own regional deadlines to support 3DS v2 specification by 2019 and 2020. For some companies, the new security mandate for online payments may be a good reason to overhaul their current business model and reconsider their position in the payment processing value chain. A new strategy can be to expand into a full-fledged acquiring business or to bring critical business technologies in-house.All the above can be achieved on WAY4, a top-ranked digital payments platform by OpenWay.

By using WAY4 3-D Secure MPI (3DS Server), acquirers can become compliant with 3DS v2. At the moment, OpenWay is among 5% of vendors on the EMVCo list that have 3DS v2 certification. WAY4 3-D Secure MPI (3DS Server) is a stand-alone solution for seamless online authentication on the acquiring domain*. It gives acquirers all the benefits of 3DS v2 compliance, which are numerous. Just a few: a wider range of shared data makes risk identification more accurate, increases authorization rates, and enables new authentication methods like biometrics. Cardholders see annoying pop-up windows far less often due to the seamless authentication process. With the improved customer experience, merchants get higher conversion rates, reduced false declines and a decreased cart abandonment rate by up to 70% (according to the report “Frictionless Experience with Verified by Visa”). 

Beyond delivering 3DS compliance, WAY4 allows financial institutions to launch an in-house payment gateway and acquiring on the same technological platform. Companies can develop various payment and merchant acquiring services, including POS/mPOS acquiring, e-commerce, DCC/MCP, and merchant wallets.  

Acquirers and PSPs around the world are already using the WAY4 platform to onboard merchants digitally, offer dynamic pricing and online settlement, launch new payment methods, expand geographies, start digital wallets and loyalty programmes, and much more. Running a payment business on a single WAY4 platform helps financial companies optimize their costs and scale up their merchant portfolio by offering customized services for different merchant segments.

“Many of our clients have used WAY4 as a basis for digital transformation of their business. For instance, a traditional DCC provider expanded into a full-fledge merchant acquiring and POS switching in six months on WAY4 and now serves lucrative brands such as Burberry, Calvin Klein, Furla, etc. Another example is how a startup that migrated to WAY4 became a global cross-border acquirer and today processes payments in 188 countries.” Dmitry Yatskaer, CTO at OpenWay.

* For issuers who use WAY4,OpenWay offers WAY4 3-D Secure ACS that complies with 3DS v2.