Security and Fraud Prevention
PAYWATCH – FRAUD DETECTION, PREVENTION AND INVESTIGATION. WE MISS NOTHING
If we leave the door ajar for fraud, it’s easier for it to happen. This is why SIBS created PAYWATCH, a service specialising in fraud management and control. It monitors transactions originating in multiple networks and channels in real time, thereby seeking to minimize the impact on the end user.
Through this service our experienced and multidisciplinary team, supported by state-of-the-art technology, intervenes in different cycles where fraud in the payment system may occur.
With this major contribution, Portugal has become an international benchmark in this area, with card fraud levels three times lower than the European average.
MB CODE (SECURE AUTHENTICATION PLATFORM). PROVES EVERY IDENTIFY
What if somebody pretends to be someone they’re not? To prevent such cases from happening, the Secure Authentication Platform provides a remote customer authentication service, for home banking solutions and other electronic channels, always in compliance with the strong authentication requirements defined in the European Union’s Payment Services Directive of 25 November 2015 (PSD2).
This service allows Financial Institutions to choose one of several authentication mechanisms. It can be based on a mobile phone, the EMW card, hardware token or the display card.
In the case of mobile phone authentication, One Time Passwords are used, sent by SMS to the customer’s mobile phone. In the case of authentication with an EMV card and reader (hardware token), or display card, the EMV-CAP app is used to generate One Time Passwords, allowing the transaction data to be signed. It is also possible to include the EMVCAP authentication app on EMV debit or credit payment cards so that the same card can be used to pay at POS and to carry out remote channel authentication.
This service is exclusive to banks that are members of the Card Issuance Service.