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Visa has chosen UK-based regtech company Callsign to be its preferred behavioural biometric digital and device intelligence identity provider.
This deal will see Visa implement Callsign’s behavioural biometric and device fingerprinting solutions to its network of financial institutions, payment service providers, and merchants across Europe.
Callsign’s technology helps firms ensure the user is who they claim to be and if they are permitted to access what they request. Through machine learning, the technology combines behavioural biometrics, device intelligence and geo-location to offer multi-factor authentication of people.
According to Fintech Global, Visa made this deal during a period where fraud rates are rising. It claims that card not present fraud accounted for 79% of all card fraud across the Single European Payments Area. Furthermore, UK finance claims authorised push payments totalled GBP 479 million in 2020.
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