Delegated authentication: A security essential plus strategic data asset

The payments landscape has undergone a significant transformation, from in-person card transactions to today’s mobile-first commerce, and shows no sign of slowing. The global mobile payment market is expected to grow to $218 billion in 2035, driven by rising smartphone penetration, government initiatives to promote cashless economies, and enhanced payment security.

These advances continue to create more authentication complexity that legacy payment processes struggle to address, leading to security, fraud, and compliance challenges. The impact is broad, with ramifications for consumers, businesses, and banks. Strong Customer Authentication (SCA) is designed to mitigate security breaches; however, when done incorrectly, it can negatively impact the customer experience.

But there doesn’t need to be a tradeoff between convenience and security. Today’s modernized payment systems can securely reduce friction while gaining valuable customer data and insights.

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