This announcement follows Visa’s plans to acquire ecommerce authentication specialist CardinalCommerce, which operates a large authentication network in the world. InAuth’s technology is used by large financial institutions, payments networks and merchants to mitigate risk and help identify potential fraud using its mobile-first device authentication services.
The acquisition follows an investment in InAuth made earlier in 2016 by American Express Ventures, the payments network’s strategic investment arm. As transactions and fraud migrate to online and mobile channels, payments providers and merchants are working to provide security that protects transactions without disrupting the checkout experience to avoid shopping card abandonment.
In November 2016, InAuth announced a partnership with Early Warning, the consortium of major US banks working to develop the Zelle mobile P2P payments network.
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