PayGlobal360 aims to provide cardholders with a better shopping experience by preventing fraudulent Card-Not-Present (CNP) transactions. Cards dominate the Ecommerce channel, and mobile wallets are seeing a rapid uptick in usage.
At the same time, e-commerce will cut the pie as smartphones attract a rising share of digital shopping. Digital peer-to-peer (P2P) apps are supplanting cash in the day-to-day lives of users across generations as they become more appealing and useful than ever.
Cardholders feel uncomfortable when making a CNP transaction. Most card payment fraud comes from CNP transactions today.
Issuers are heavily impacted by CNP fraud. Issuers are heavily impacted by CNP fraud. Cardholders significantly change their behavior after experiencing it, which eventually results in huge revenue losses: 70% of cardholders will never use replacement cards again; the other 30% spend less than half the amount they previously paid before becoming fraud victims. Time to rethink the strategy and shed the old thinking way of processing as technology and processes aredynamically expanding horizons.
PayGlobal360® CMS (DCVV / Virtual Card)
PayGlobal360®™CMS is a unified platform for providing the integrated solution for financial institutions, processors and merchants for end to end issuing, acquire, authorization, routing and switching transactions across multiple channels.
Payglobal360 allows the creation of as many virtual cards as required and following capability is available in platform at the product level. Any customer can create virtual cards, manage virtual cards, block or unblock virtual card, tokenize virtual cards.
PayGlobal360®™CMS brings the state of art payments platform with simplified processing and is future proofs from various experiences of the customers.
PayNways Worldwide has incorporated the (DCVV) card to help issuers deploy a solution that guarantees secure eCommerce transactions and a seamless online shopping experience for cardholders. This easy-to-use solution will give consumers, retailers and banks confidence in their transactions and cut the risk of shopping cart abandonment and revenue loss while reducing CNP fraud management costs such as chargebacks, call centers, claim management and re- issuance of cards.
The PayGlobal360 DCVV is a contactless EMV payment card which displays a dynamic code that changes each time and generated on demand of cardholder.
Instead of the static code currently used to secure online purchases, PayGlobal360 DCVV is dynamic and displayed on demand of cardholder on mobile. This dynamic code is time limited, which greatly reduces the risk of it being stolen by a hacker and used for fraudulent transactions.
PayGlobal360 DCVV and Virtual cards go hand in hand as the functionality can be enabled from product setup. It can be enabled for specific client, product with parameter of how many virtual cards can be created and if the DCVV is enabled for product.
Business Levers
Enhance Customer Experience
This issuer-centric solution is easy to deploy as it puts issuers in full control with no merchant-side or acquirer integration required. The PayGlobal360 DCVV is compliant with open-reference architecture.
Designed to be interoperable, it enables flexible solution deployment.
On Click "Generate dCVV", PayGlobal360 will generate a new DCVV
- Take PAN + Card Expiry + ATC + Card Verification Key 1 + Card Verification Key 2 as input
- Decimalize first 3 digits and use it as DCVV
Technology Levers
Platform independence for lower total cost of ownership
Financial institutions are spending more on infrastructure and platforms every year than ever before which means the platform running are lacking the drivers of future proofs and technological upgrade. The need to reduce dependency on aging systems as well as lower hardware, operating system and maintenance costs has become paramount. PayGlobal360®™CMS by leveraging multi-environment, estimate that institutions can reduce technology operating costs by considerable margin while enjoying the same performance, scalability, reliability and high availability. PayGlobal360®™CMS also operates on HP Unix, IBM Series p and Oracle Sun servers.
Payments In The Cloud
PayGlobal360®™CMS is available on premise or in a virtual private cloud environment. PayNways Worldwide provides world-class, cloud-based payment solutions and is tested on all major industry standards clouds and services is ready to be used by any organizations around the world to reduce time to market and minimize technical, operational and business risk. Virtual Private cloud-enabled services help organizations to plan the growth, introduction of various product into market and increase and expand business and customer offerings.
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