How to safeguard instant payments in real-time with advanced authentication from Entersekt

In today's fast-paced financial landscape, the need for instantaneous transactions has never been more critical. Enter instant payments offered by services like FedNow^SM, RTP^®, and peer-to-peer (P2P) payment platforms like Venmo and Apple Pay.

Now, as popular as these products are among consumers, behind the scenes, fraudsters love them too. In fact, in the UK alone, 97% of recent authorized push payment (APP) scams occurred on their Faster Payment rails.

Entersekt’s groundbreaking authentication technology is designed to fortify instant payment systems against these and other evolving cyber threats. Give us a try!

Strong authentication: The technology behind instant payment protection.

With Entersekt’s authentication technology, financial institutions (FIs) worldwide can ensure that every transaction, every exchange, and every transfer occurs in a secure, user-friendly way. Our innovative platform provides unparalleled protection, safeguarding real-time payments from the risks of fraud and unauthorized access.

Watch on-demand:
Faster payments means faster, better fraud fighting tools

Instant payment protection: How it works.

With nearly half of Americans already using P2P payments, FIs need to focus on how to protect customers from real-time payment scams. An effective solution could work like this:

Instant payments are evaluated by a real-time risk system.
01
Low-risk payments are processed without friction, providing that “instant gratification” synonymous with real-time payments.
02
Higher-risk payments trigger a secure push notification to the customer’s linked device.
03
Customers can click either “Send” or “Reject”.
04
Clicking “Send” triggers biometric authentication, if enabled, to verify the customer’s identity, and payment is made.
05
Clicking “Reject” blocks the payment immediately, stopping any fraudster in their tracks.
06

Read our blog: Unveiling the dark side of real-time payments

Why choose Entersekt to secure your instant payments

Seamless integration:

Entersekt seamlessly integrates into existing payment infrastructures, enabling financial institutions to enhance security without disrupting the user experience or operational efficiency.

Global compliance:

Advanced authentication:

Committed to regulatory compliance, Entersekt ensures that financial institutions remain compliant with global security standards and regulations, mitigating regulatory risks and safeguarding customer trust.

Entersekt’s authentication technology employs state-of-the-art encryption protocols and multi-factor authentication (MFA) methods to guarantee the integrity of every transaction. This empowers financial institutions to stay ahead of emerging threats, while enabling their customers to continue their instant payment transactions without fear or failure.

Customer trust:

By prioritizing security and reliability, Entersekt helps financial institutions foster trust and loyalty among customers, positioning them as industry leaders in the digital banking era.

Learn more in our blog post: How biometrics prevent instant payment from becoming instant fraud

Join the secure instant payments revolution.

Faster payments are a new global reality, providing convenience and immediate access to funds to consumers and businesses alike. Unfortunately, fraudsters have also developed a fondness for faster payments. They are capitalizing on gaps in control frameworks and the ultimate weakest link – the customer.

Julie Conroy

Datos Insights

Ready for a personalized demo? Complete the form below.