By Dana Sanchez
With customers including Target, Lyft, and Amazon, Stripe was used by half of all Americans who bought something online in 2017, according to Bloomberg. In other words, those transactions were done through businesses whose payments were processed by Stripe.
Touchtech Payments works with banks to help them build and manage Strong Customer Authentication, a verification process that usually requires two different forms of authentication from cardholders to process transactions, according to Techcrunch.
Strong customer authentication will be required on most transactions in Europe as of Sept. 14, 2018. The new European regulations are expected to radically change the way European customers buy online, Touchtech said in a prepared statement. Businesses and banks will have to adapt and build an extra layer of authentication into online credit card payments. Thousands of European online sellers will have to upgrade their payments platforms to prepare for the regulation, Stripe said.
“One of the largest contributors to online credit card fraud is the lack of proof that the Click here to read entire article