Consumer Benefits
To counter CNP fraud, there has been increasing use of fraud screening detection tools by retailers and banks. Notably, there has been continuing investment in cardholder authentication processes such as MasterCard SecureCode and Verified by Visa. For consumers, these kind of bolt-on solutions have proved unpopular due to poor usability, integration & poor customer education. The HomePay solution represents the end of the workaround process and offers consumers the same secure payment method they are familiar with in the high street.
The Secure Electrans HomePay solution is revolutionary in its simplicity: Replicate the retail Chip & PIN solution in every home.
HomePay presents numerous benefits to the consumer:
- HomePay follows the established and familiar retail experience to minimize cardholder learning curve
- A single security device for all transactions
- Consumers wary of existing online shopping security are comfortable with Chip & PIN at retail stores
- Fewer rejected transactions
- No need to lodge account details or money with services such as Paypal
- Fewer frustrating abandoned transactions due to workaround authentication processes
- Increase in consumer confidence in e-commerce shopping
- Greater choice for consumers because merchants, who have been thus far been wary of high fees & escalating fraud levels, will have increased confidence in online channels
