It all may seem so complex for non-EEA companies to process EEA payments, however, it can be wonderfully simple. Understanding is the key, as is having the right solutions in place for reducing fraud. If you think you’re saving time and money by relying on ineffective legacy anti-fraud systems, think again.
The best approach is to therefore stay ahead of the regulations with advanced solutions that are already available today. Why wait until the last minute to meet a regulatory implementation deadline when you can already begin the process now? Doing so now can smoothen payments and transaction flows long before regulators enforce financial penalties for non-compliance.
The most effective means to stay way ahead of existing requirements and any potential future legislation is to find a fraud solution that is powered by machine learning models and is able to continuously authenticate every single user in real-time. Humans can be distinguished from bots, and humans can be distinguished between good and bad actors, all while automatically analysing digital fingerprints (device and network setups), coupled with behavioral biometrics to understand the true intentions of every user behind the scenes. All this while cutting back on manual processes and unnecessary financial penalties.
If you liked this post about PSD2 one leg transactions and wish to learn more about how Nethone’s fraud solution can help you, arrange a call with us by clicking on the ‘book a call’ button at the top of this page. Alternatively, you can contact Neil directly at firstname.lastname@example.org or via LinkedIn.