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Global PayTech solution provider Stanchion and Entersekt have announced a collaboration to offer seamless and easier payments option to users. The strategic partnership is seen as a major step towards improving payments integration while offering innovative solutions to financial institutions on a global scale.
Entersekt says the partnership is coming at the right time when users are increasingly becoming savvy in online purchases. They are looking for easier and more effective ways of making payments without exposing themselves to high risk.
The Partnership Will Optimize Operational Efficiency
Stanchion started operations in South Africa in 2001. The company has since expanded its operations across several jurisdictions, including the United States, United Arab Emirates, and Australia.
The tech firm has a reputation for its Payment Fabric technology which enables issuers to modernize, transform, and accelerate their innovation within payment systems. It helps users to extend the lifespan of existing investments by optimizing operational efficiency.
Entersekt is coming into the partnership with an advanced 3-D Secure payment authentication system. The system offers secure transaction authentication across three major domains: the interoperability domain, the card issuer domain, and the merchant acquirer domain.
These servers, according to Entersekt, have delivered impressive results consitently, recording over 50% increase in conversion rates and a 70% decrease in card-not-present (CNP) fraud within one month.
It has also recorded an impressive growth of 149% in transaction value in the first 12 months of its deployment. It comes with innovative features like silent authentication, biometric verification, and out-of-band verification.
The Platform Will Use Advanced Payment Technology
Entersekt says its solution offers adaptive risk intelligence, strong authentication, reduces cart abandonment, and improves customer experiences. The goal of the partnership is to cintiniously improve customer experiences with the advanced payment technology, ensuring a seamless and safe payment method for all users.
Chief Revenue Officer of Entersekt, Marty Overman, commented on the partnership.
“We are excited to partner with innovative fintech leaders like Stanchion,” he said, adding that the partnership aligns with the company’s goal of offering seamless and secure payment solutions. These will empower potential customers and other financial institutions globally.
Chief Commercial Officer of Stanchion, Chris Pappas, also commented on the collaboration. He noted that the platform is excited about the partnership as it will offer a more secure payment process from one of the top 3-D Secure providers in the world.
He added that the partnership will enable the company to deliver greater value to clients while enhancing capabilities. This reinforces its position as a top player in the payment integration solutions industry.
