Apple Pay in Mexico, Adyen authentication service, and merchant services rating
Payments Weekly is here!
There is lots of great payment news we can’t wait to share with you!
Apple Pay expand their presence in Mexico
More Mexican card holders will have access to Apple Pay with the support of Paymentology and Fondeadora.
This is definitely encouraging news for Mexican card holders. Apple Pay has a strong anti-fraud and security capabilities that will be so beneficial for consumers. In addition to its security capabilities Apple Pay is one of the most convenient ways to make online payments.
“Customers can take advantage of Apple Pay’s advanced security technologies, such as Face ID and Touch ID, to ensure that each of their transactions is secure and protected. They will also be able to make online purchases, without the need to manually enter their payment and shipping information each time.”
New Adyen authentication solution is here to help you with 3DS conversion
If you are living in the US and have never experienced SCA flow, let me tell you - it is far from perfect. Most banks still support 3DS1 style flow where a shopper is redirected to their bank page to complete payment after providing a card data. Then, the shopper has to enter a code they received via SMS on a bank page.
The flow seems even more confusing on mobile devices where the bank page typically has some loading issues or can’t properly fit on a screen. Merchants report a significant decrease in checkout conversion rate after enabling 3DS.
Adyen introduces a new authentication solution that is here to help. Adyen's solution allows users to use touch ID or face ID to complete a 3DS flow. This should dramatically improve checkout conversion rate as well as customer satisfaction.
“While many digital authentication flows are full of friction including redirects, Delegated Authentication allows Adyen to fully authenticate the consumer on behalf of the issuer, providing a streamlined cardholder experience while remaining within the merchant checkout page. To maintain the highest security standards while providing ease of use, Delegated Authentication enables shoppers to utilize two-factor authentication, leveraging biometric checks such as fingerprint recognition and facial scans, and device bound credentials. Delegated Authentication has been expanded from only web browser users to include iOS and Android users.”
Square ranked second in satisfaction study while Fiserv, FIS and Elavon are below average
J.D. Power has ranked merchant service providers based on the merchant response in their recent merchant satisfaction study. The main drivers were costs of service, technical issues and service channels.
Bank of America is leading the chart with 886 points out of 1000 with the industry average of 853. Square is ranked second with 873 points.
Linux Foundation is going into digital wallet in EU
The Linux operating system is a dominating platform on servers. It is also the foundation for Android operating systems. Now the Linux Foundation is going to drive the digital wallet world with their new initiative. They are not planning to introduce a new wallet or platform for consumers. Instead, they are going to provide tools for software development companies to build their own.
Several major organizations are partnering with the Linux Foundation in this development including Visa and Amex.
Having one standard solution should help the market to be more organized and transparent.
”The OWF will not publish a wallet itself, nor offer credentials or create new standards. Instead, its open source software engine aims to become the core that other organizations and companies leverage to develop their own digital wallets. The wallets will seek feature parity with the best available wallets and interoperability with major cross-border projects such as the EU’s Digital Identity Wallet.”
GoDaddy launched an interesting service – Payable Domains
If Stripe Links and GoDaddy would have a child this would be it.
Payable Domains allows business owners to create a custom landing page that accepts payments. This means that business owners will be able to use their domains to sell products, services, and even accept donations instead of just having a domain name and using it for their website or email.
There is definitely a niche for these types of services for small businesses who want to start accepting payments on their branded page, but the existing services don’t always work for them or take too much time to implement.