from DION HENRICK in Cape Town
CAPE TOWN, (CAJ News) – CAPITEC is boosting its electronic-commerce security to enhance clients’ digital experience.
The retail bank has implemented Entersekt’s EMV 3-D Secure feature to provide customers with real-time risk based authentication (RBA) for online purchases.
Entersekt is a Stellenbosch-based fintech provider of mobile-based authentication and app security software protecting online and mobile banking and transactions.
Entersekt’s solution leverages behavioural analytics from NuData Security, a Mastercard company that provides industry-leading risk-based authentication technology.
This builds on the partnership between Entersekt and NuData Security that was formalised in 2020.
Schalk Nolte, Chief Executive Officer of Entersekt, said e-commerce or ‘card-not-present’ fraud remained high in South Africa, accounting for 80 percent of credit card and 53 percent of debit card fraud.
This is according to the South African Banking Risk Information Centre (SABRIC).
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He said their solution was fully customisable, enabling Capitec to create differentiated e-commerce experiences for their cardholders.
“This implementation is another milestone on our innovation journey with Capitec as we keep pushing the boundaries of digital security and user experience,” Notle said.
Francois Viviers, Executive: Marketing and Communication at Capitec, said implementing Entersekt’s solution with behavioural analytics from NuData Security, would provide an additional level of protection for e-commerce transactions.
“This also allows our team to continue to innovate, keeping our customers secure and Capitec at the forefront of digital banking innovation in South Africa,” Viviers said.
– CAJ News