The acquisition will enable more secure, seamless payments, whether made through a browser, mobile app, or connected device, and will help Visa’s clients and merchant partners accelerate digital commerce.
“This strategic acquisition combines Visa’s industry expertise and Cardinal’s critical role in payment authentication to bring added security to online transactions, reduce fraud, and support digital commerce which is the fastest growing commerce segment today,” said Mark Nelsen, senior vice president of Risk and Authentication Products at Visa. “By helping merchants, acquirers, and issuers better distinguish between good and bad transactions, Visa is in an even better position to strengthen consumer trust in digital payments, help merchants grow their businesses, and accelerate innovation in commerce.”
As shoppers increasingly make their purchases through digital channels, Visa is committed to equipping merchants, acquirers, and issuers with intelligent, data-driven tools to keep e-commerce fraud in check, while minimizing disruption to consumers at checkout. The payments industry has worked together to recently launch the 3-D Secure 2.0 standard, which will greatly expand the scope and quality of real-time predictive risk scoring for both merchants and issuers, provide more seamless online payment experiences for consumers, and accommodate new devices and ways to pay.
„More user-friendly authentication experiences can translate to higher conversion rates and increased sales for merchants. Issuers will also be able to better assess risk and make more informed transaction decisions in an increasingly digital world.”, according to the press release.
“We are excited to embark on this next chapter of Cardinal’s growth with Visa,” said Mike Keresman, founder and CEO, Cardinal. “By combining our authentication expertise and role in supporting both merchants and issuers, and Visa’s payments expertise and global reach, our two companies will be able to fast track the next-generation of digital authentication.”
Visa already provides Cardinal’s services to merchants and acquirers through its CyberSource merchant and acquirer enablement platform. Additionally, Visa will draw upon its global relationships and presence to drive international expansion of Cardinal’s products and services. As Visa plans to integrate tokenization into Visa Checkout over the next 18 months, the addition of Cardinal will allow more seamless integration of 3-D Secure and delivery of these new fraud mitigation capabilities to merchants.
„Cardinal will continue to operate and serve all of its clients as a wholly-owned subsidiary of Visa, and its authentication platform will continue to support a broad range of payment brands and partners across the industry.”, the company says
CardinalCommerce is the pioneer and global leader in enabling authenticated payment transactions in the card-not-present payments industry, and the largest authentication network in the world. Through One Connection to the proprietary Cardinal SafeCloudTM, the company enables friction-free, technology-neutral authentication and alternative payment services (including digital wallets and mobile commerce services). Cardinal services, partners with and complements most providers in the marketplace to deliver their One Connection solution to secure transactions. In accommodating this growing number of payment brands and methods, Cardinal’s platforms serve as universal switches, supporting virtually all merchant platforms, wallets, legacy processing systems and authentication methodologies.
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”