Many banks still rely on outdated batch upload processes for cardholder information and card status, which means consumers who need to cancel or block a stolen credit card will sometimes have to wait hours for their request to be actioned.
Ellezane says, “Synchronization between their EMV 3D Secure Access Control Server and cardholder information, banks can immediately block or cancel a card so consumers can confidently transact online.”In 2022, Entersekt deployed a real-time API that allowed their global banking clients to instantly communicate with their ACS. However, the system still relied on multiple messages between APIs to communicate and authenticate any changes on a card, such as card blocking or cancellation.
In recent years, some banks have built multiple APIs to achieve real-time synchronization. The development effort to create multiple APIs was a significant hurdle for issuers and processors in replacing the antiquated batch process. The simpler, faster, and more efficient process will save banks’ development teams hundreds of integration hours.UBER Eats Tackles SA’s Energy Crisis Head On
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.