FinTech CLOWD9 partners with Netcetera to combat payment fraud

By Gloria Methri

CLOWD9, the cloud-based and decentralized payment processing platform, has chosen Netcetera as its payment security provider. FinTech will leverage Netcetera’s 3D secure issuer service for transaction authentication and access control server (ACS).

The 3-D secure issuer service is an EMVCo approved product, compatible with EMV 3DS protocols. Designed for frictionless and reliable payment processing, the solution is used by more than 200 banks and card issuers worldwide.

From a security perspective, the solution reduces the risk of unauthenticated transactions, associated refunds and lost revenue, while enabling a frictionless cardholder experience.

As an issuer processor, CLOWD9 acts as the interface between banks, FinTechs and payment firms to authorize transactions and initiate payments, maintain the system for recording cardholder data and provide settlement instructions. The company can now offer the solution to its customers worldwide, which consists of a comprehensive set of tools for frictionless payments to improve the shopping experience of cardholders.

CLOWD9 CEO and Co-Founder Suresh Vaghjiani said: “As a new company operating at the forefront of payments technology, it is important for us to work with partners who value innovation equally. We have built a platform at CLOWD9 that improves both the efficiency and reliability of global payments by leveraging new technologies . We recognize Netcetera as a forward-looking solution provider capable of meeting our unique requirements as a cloud-based payment processor.”

Netcetera UK Senior Business Executive Robert Miskin added, “We are excited to partner with CLOWD9, especially during this important period of their business growth. We believe that bringing our leading 3-D Secure and Access Control Server (ACS) services for issuers will help drive adoption of 3DS, significantly improve the overall security of their online transactions and ultimately lead to a more efficient and frictionless experience for their end users.”