CR2 partners with M2P Fintech to secure e-commerce transactions

By Leandra Monteiro

CR2, a digital banking and payments platform, has partnered with M2P Fintech, a global leader in embedded financial infrastructure.

The collaboration provides banks with an innovative solution to secure e-commerce payments and prevent “card-not-present” fraud. The goal is simple, to increase payment security for bank customers without unnecessarily increasing the check-out time.

Fintan Byrne, CEO of CR2 said: “At CR2, we are committed to empowering banks with innovative solutions that create a seamless customer experience while constantly improving digital payments. We continue to work with quality technology providers to expand our partner ecosystem. Through this partnership, we will offer a first-class solution to meet customers’ demands for convenient and secure payments. We are pleased to partner with M2P Fintech to offer our customers a solution that ensures payment security through all channels with a simple customer experience.”

E-commerce growth continued with a 17.1% increase in global e-commerce in 2021. Retail e-commerce sales exceeded $5.2 trillion globally in 2021. As e-commerce transactions increase, so do opportunities for fraud. Banks must develop the ability to reduce fraud and at the same time reduce check-out times and provide customers with a secure and practical digital payment experience.

The dynamic 3D Secure protocol authenticates the cardholder during e-commerce transactions to prevent fraud. Strong customer authentication (SCA) has increasingly become a key requirement for banks that help innovate payment services and reinforce security.

This partnership will see M2P’s ACS 3D Secure technology solution integrated into CR2’s platform to enhance its card issuance proposition and support secure e-commerce payments. It also gives banks the flexibility to design a unique authentication process for their customers.

Madhusudanan R, Co-Founder, M2P Fintech said: “We are excited about the opportunity to partner with CR2 to bring our world-leading authentication solutions to key markets in the Middle East, Africa and Southeast Asia. M2P’s highly customizable payment authentication platform allows for seamless integrations, enabling advanced authentication options. We have leveraged the best of what commerce, mobility and payments have to offer to give customers a frictionless transaction experience.