Fortress Identity to provide biometrics for Visa transactions under LATAM partnership
Fortress Identity and Visa have reached an agreement to collaborate on protecting Visa cardholders in Latin America and the Caribbean with optional biometric solutions for every point of interaction, including online sales, the companies announced.
Under the partnership, Fortress Identity’s voiceprint technology, active and passive biometrics, and phone codes will be used to establish customer identity with extremely high certainty, according to the announcement.
“We want Visa cardholders to feel absolutely confident that their funds and personal data are safe whenever and wherever they use their Visa cards,” comments Fortress Identity CEO Alessandro Chiarini.
Fortress Identity will also work with Visa partners, including payment platform provider YellowPepper, banking-as-a-service platform company NovoPayment, and EMV vendor HST. Chiarini spoke about multi-factor authentication at the 2019 Visa Latin America and Caribbean Security Summit in March.
“Multi-factor user authentication is critical in today’s interconnected commerce space, and verifying the identity of people attempting to access the network is key to reducing many types of fraud, including chargebacks,” says Eduardo Perez, SVP and Risk Officer for Visa Latin America and the Caribbean.
“We are proud to be working with a company as committed to transaction security as Visa,” Chiarini says. “Visa has always been an innovator. Now, by moving to multi-factor authentication, it is applying the very strongest biometric technology as an option to meet the challenge of safeguarding customers’ assets.”
Mastercard has taken an early lead in trialing payment cards with embedded biometric capabilities, while Visa has suggested biometrics could be used to improve the safety of urban mass-transit systems.
Fortress Identity recently secured an undisclosed amount of new funding from construction firm Moss & Associates.