Drivers for strong authentication in the UK and France

Abstract

While the introduction of Chip and PIN technology has significantly reduced fraudulent crime at the tills, Card Not Present (CNP) fraud has been on the increase across Europe. A large contributing factor to this rise is the internet, where consumers are more and more frequently making transactions. E-commerce and eBanking transactions have traditionally left both the consumer and their respective bank exposed to fraudsters, as there has historically not been any way to verify that the card details being used are being inputted by the owner. With this in mind, banks across Europe have started to deploy tighter security, by way of strong authentication, to protect both their customers and ultimately their bottom lines. However, the drivers for launching stronger authentication have varied significantly from country to country, from eBanking operations to eCommerce payments, and a prominent example of this contrast can be made between the UK and France. Laurent Maitre, marketing director, XIRING reports.