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Financial Services Review | Friday, August 02, 2024
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● The new technology will enable customers to complete their entire transaction within the same window, whether or not the retailer itself is PCI compliant
● Same-screen PCI DSS authorisation will reduce payment friction, while enhancing security and compliance levels for cross-border transactions.
D24, the SaaS ‘deep payments’ solutions provider, today announced availability of its new API payment security solution enabling PCI DSSv4 compliant payments to be fully embedded on the retailer checkout, without the requirement for consumers to open multiple windows or consult other devices to complete their transaction.
PCI DSS is a set of security standards designed to ensure that organizations that store, process, or transmit credit card information have effective security measures in place. APIs play an essential role in PCI DSS compliance, handling sensitive cardholder data and facilitating payment processing.
The offering enables D24’s PCI compliance API to be easily and seamlessly integrated into a merchant’s website within minutes, enabling any retailer to leverage D24’s compliance credentials to combat fraud, without compromising the consumer experience.
Previously, consumers were obliged to switch between screen pop-ups or, in some cases, other devices (in the case of OTPs for instance) – to complete the PCI compliance process. One consequence is high levels of attrition due to the additional steps required, an issue which is particularly acute for cross border payments.
According to cross border research from Lexus Nexus, half of respondents report losing 2% or more of their customers due to failed or delayed international payments; the same research calculates that a global average of 14% of cross-border payments are not completed and incur charges from a banking partner.
In Latin America, for instance, the average cost of failed or repaired cross border payments is $11.43 per transaction. Integrating full PCI-DSS compliance within the customer’s existing screen in a truly seamless process will ensure that they and their retailers enjoy the benefits of added security and a seamless user experience.
D24’s “deep payments” PCI compliance solution is based on a set of pre-built UI components to deliver a fast-loading, secure, easily integrated and compliant checkout experience without the need for additional coding or programming. D24’s API integrates various payment methods into one secure and dynamic checkout solution so customers can concentrate on growing their businesses.
D24’s PCI DSS compliance API is available for multiple international markets and cross border environments.