🔐 Visa and WhatsApp Embrace Passkeys 🔐 Visa unveiled innovative biometrics and passkeys to address rapid AI and digital identity technology changes. Additionally, WhatsApp has expanded its passkey availability for all users. Forbes predicts that 20% of payments in 2024 will be made online. Visa's new Payment Passkey Service employs biometrics and cryptography to confirm customer identity, revolutionizing the online payment experience. Similarly, WhatsApp allows users to authenticate via passkeys, enhancing security and ease of access. Jack Forestell, Visa's Chief Product and Strategy Officer, highlights that these advancements are pivotal in the digital payments industry, promising consumers a more customized, convenient, and secure future. 📲 Click the link to learn how passkeys can transform your digital transactions, and book a consultation with our experts today! #DigitalPayments #Biometrics #Passkeys #Fintech #AI #Visa #WhatsApp #Innovation #Security #Ecommerce
HiTRUST
Information Services
Taipei, Taiwan 1,326 followers
Payment innovation for a digital future AI Fintech & ID detection to secure online transactions frictionlessly
About us
Founded in 1993, HiTRUST has been at the forefront of providing cutting-edge solutions for secure e-commerce. We specialize in a range of products and services, including EMV 3DS, AI Risk Detection, FIDO Authentication, Payment Gateway Service, and E-commerce and Loyalty Service. Pioneering 3DS Solutions As a first-mover in the 3DS solutions arena, we proudly introduced this technology to China. Today, we offer an advanced 3DS system to financial institutions, international banks, payment service providers, and merchants. Our solutions, spanning from 3DS 1.0 to 3DS 2.x, have been trusted by major credit card issuers and acquirers. Furthermore, we collaborate closely with card schemes and payment institutions to continually enhance and secure the online payment landscape. Innovation and Support At HiTRUST, innovation is in our DNA. We allocate significant resources to research and development, ensuring that we stay ahead of the curve in the ever-evolving world of secure payments. Our unwavering commitment to technical support ensures that our clients receive prompt and reliable assistance whenever needed. This dedication has earned us accolades from both the industry and the public, cementing our reputation as leaders in the field. Global Reach In 2014, we embarked on a journey to expand our footprint globally. Since then, we have made significant strides, gaining a strong foothold in regions such as Southeast Asia, Australia, New Zealand, the US, and the UK. Our mission is to empower businesses worldwide with secure and convenient payment solutions, bridging the gap between issuers, acquirers, and cardholders.
- Website
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https://www.hitrust.com
External link for HiTRUST
- Industry
- Information Services
- Company size
- 201-500 employees
- Headquarters
- Taipei, Taiwan
- Type
- Privately Held
- Founded
- 1993
- Specialties
- 3-D Secure, e-Commerce, Mobile commerce, authentication, risk-based authentication, fraud prevention, and secured payment
Locations
Employees at HiTRUST
Updates
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Building and maintaining strong protection against payment fraud is challenging, especially when bad customer experience is costing customer churn. Explore the benefits of our AI-powered Fraud Detection system for Issuers, Acquirers, and specifically Merchants! #HiTRUST #frauddetection #AI #onlinepayment
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Myth Busting: Secure Payments Are Inconvenient There’s a common misconception that enhancing payment security ruins user experience, mainly due to the extra steps involved in Multi-Factor Authentication (MFA)—despite it protecting 99.9% of users from online fraud. Understandably, the added friction leads only 60% of online banking customers to embrace it. Enter the FIDO solution—a game-changer with its one-click authentication process. Forget waiting for SMS codes or extra redirects. FIDO uses cutting-edge biometrics, making secure payments as simple as a single tap. It’s secure, swift, and user-friendly. Swipe left to bust this myth and book a call with our team for a FIDO authentication demo. Discover the future of secure, hassle-free transactions. #HiTRUST #FIDO #Authentication #Onlinebanking #Securepayments
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Payment Card Fraud Skyrockets in Greece in 2023👹 In 2023, Greek cardholders suffered a significant loss of €13.5 million to payment card fraud, contributing to an overall loss of €23.8 million. This marks a 46.9% increase from the previous year. With fraud incidents up 43% due to the surge in online transactions, the rate of fraudulent activities has spiked, albeit remaining low at one per 5,400 transactions (0.02%). It's important to note that most fraud originates from e-commerce transactions. Are you worried it might harm your customer? Click the link below for more details, and talk with our security experts today. #HiTRUST #3DS #Authentication #CardFraud #FraudDetection #FraudPrevention
Card fraud rises 43% in a year | eKathimerini.com
ekathimerini.com
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3-D Secure Doesn't Slow Down Checkouts During Money 20/20 Asia, some wondered if 3-D Secure (3DS) would slow down transactions, as challenges create friction for customers to complete checkouts. Fortunately, the birth of 3-D Secure 2.0 brings a frictionless flow. According to Mastercard, around 90% of transactions will proceed smoothly, ensuring a positive customer experience. This means that most cardholders no longer need to face the challenge, and issuers challenge only the top 10% of high-risk transactions. Thus, not only enhancing the security during the transactions, but 3DS also help merchants shift their liabilities. Moreover, there are more advantages to using 3DS than not. Swipe left to find out what you need to avoid using 3DS. #HiTRUST #3DS #Authentication #frictionless #onlinepayment
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Is AI the Key to Stopping Fraud? Revolut was the most complained-about bank for fraud disputes in the UK due to a surge in authorized push payment (APP) fraud complaints. The Financial Ombudsman Service predicts a 16% rise in total complaints in 2024-25 due to increased scams, including several conventional banks featured on the list. Banks emphasize their commitment to fraud prevention and customer protection to solve this problem. Learn how AI can prevent Push-Payment Fraud. Please read the article below & book a consultation call with our expertise! #HiTRUST #fraudprevention #pushpaymentfraud #banking #fintech #ecommerce #onlinesecurity
Revolut fraud payout row leaves 1,000 victims in limbo
telegraph.co.uk
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Which Authentication Method is Best for You? Did you know 95% of authentication relies on the conventional username and password method? Despite its prevalence, this method is fraught with issues: password reuse, the inconvenience of resets, and the ever-present risk of forgetting them. Enter biometrics: a cutting-edge alternative that leverages unique physical traits such as fingerprints, facial features, or voice for authentication. While more intuitive, biometrics isn't impervious to security threats like man-in-the-middle attacks. That's where FIDO (Fast IDentity Online) standards come in. Endorsed by major financial organizations, FIDO combines biometrics with robust public key cryptography, mitigating risks associated with traditional methods and enhancing security without sacrificing convenience. 👉 Facing a dilemma in choosing the suitable authentication method? Swipe left to explore the pros and cons of each and discover how they can secure your platforms. Book a consultation with our expert to tailor a solution that fits your needs! #HiTRUST #FIDO #Authentication #OnlinePayment #Passwordless
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Does Fraud Lead to Bad Customer Experience? Ten days after activating the credit card, a customer discovered that it was blocked due to fraud concerns. Despite several complaints and calls, the card remained blocked. As a result, he vented his frustration on social media platforms. The issuer acknowledged the ongoing fraud investigation but offered no immediate solutions. Do you worry that your platform might be affected? Click the link below to find out the details and book a consultation with our expertise! #HiTRUST #CardFraud #Frauddetection #Fraudprevention #CNP
Santander customer slams 'clueless' support as new credit card blocked
express.co.uk
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HiTRUST's Big Return at Money 20/20 Asia As our three-day journey had wrapped up, we're sharing with you our takes on the world's biggest event in the payment industry, what we did, and our mini recap. Check out our latest write-up to update on the hottest news at Money 20/20 Asia 2024 and see how we brought Taiwan's fraud-fighting innovations to showcase to the world. #money2020 #money2020 #hitrust #frauddetection #fightfraud #AI
HiTRUST’s Return at Money 20/20 Asia 2024
medium.com
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Fighting Push-Payment Fraud: Why Bank Needs AI? New data reveals Revolut as the most complained-about bank for fraud disputes in the UK between April and December 2023. Here are some key takeaways from the article: 📈 APP Fraud Complaints Spike: Revolut led with 3,048 complaints, primarily due to authorized push payment (APP) fraud, marking a significant rise from the previous year. 🏦 Increased Vulnerability Across Banks: Both fintechs like Revolut and Monzo and traditional banks like Barclays have seen increased complaints, indicating a broader industry issue. 🌐 Rising Industry-Wide Complaints: The Financial Ombudsman Service forecasts a 16% increase in complaints for 2024-25, mainly due to more scams. Upcoming regulations in October will mandate reimbursements for APP fraud victims. ⚒️ Proactive Measures by Banks: Banks, including Revolut, Barclays, Monzo, HSBC, Santander, and Lloyds, actively enhance fraud prevention and customer protection. Stay safe and informed about fraud prevention with AI. Book a consultation with our experts, and read the full article for more details! #HiTRUST #fraudprevention #pushpaymentfraud #banking #fintech #ecommerce #onlinesecurity
Revolut fraud payout row leaves 1,000 victims in limbo
telegraph.co.uk