Giovanni Cetrangolo, Head of Strategic Projects and Innovation
Paper currency belongs in a museum, on display, snugly sandwiched between panes of clear glass. The world economy is quite nearly at that juncture, as ten years ago, six out of every ten transactions were cash, while now it’s three in ten. And in just another decade, it could be as low as one in ten. These are dependent on a very specific function of an economic system—security. And as cashless transactions become more and more pervasive with each passing day, so do the security safeguards created to meet its’ users’ best interests. Mercury Processing Services International sits at the intersection of this convergence of security and the cashless economy, with its host of different authentication methods and tools such as mobile tokens, OTP and challenge based questions. Mercury Processing Services International offer these services as a turnkey solution or as an SDK where the user can apply authentication to any kind of banking system, internet banking framework or banking application. “Our objective is to provide high-quality authentication services to anyone,” states Giovanni Cetrangolo, Head of Strategic Projects and Innovation at Mercury Processing Services International.
Being part of an ecosystem that includes customers, cardholders, banks, and payment schemes, Mercury Processing Services International’s unique position gives them an end to end view that make it profitable and beneficial for customers to use their solutions. In contrast, a banking system deploying card-based transactions that are not authenticated presents a huge risk on the web or at a POS. It is in understanding the complexities associated with those oversights that defines Mercury Processing Services International’s DNA and their complete, end to end knowledge of the electronic payment ecosystem.
Maintaining security at all levels of that ecosystem— including mobile application and server-side environments— is one of their key pillars. Mercury Processing Services International puts in a special effort to employ best practice methods to develop, deploy, and run environments for their applications—continuously tested internally and by third parties laboratories. The solution provider puts integration with different customers using different technological or business models at the very frontier of their operations. The company thus develops flexible solutions that can be easily integrated into their clients' environment and can be deployed quickly.
Mercury Processing Services International offers several solutions, each of which targets a particular area of banking security. Mobile Token (mToken), which helps keep customers protected online, is an application installed on mobile devices, used for two-factor authentication. mToken is designed for integration and use in secure e-commerce transactions, accessing internet/mobile banking and other security systems that require strong customer authentication. The solution also comes with a limited in duration one-time password (OTP), with challenge-response protocol and QR code scanning, signing—Push/Pull signature— and customer authentication with password or biometrics.
Additionally, Mercury Processing Services International offers a CAP/DPA card reader, a solution where the cardholder is authenticated via smartcard reader using CAP/ DPA protocols available on payment card. Being a hardware-backed solution, it is suitable to authenticate customers without a mobile device, to insure customer confidence in more traditional business settings, such as retail or government institutions.
Mercury Processing Services International is a proud holder of the EMVco 3-D Security certificate for its Access Control Server (ACS, it protects consumers by requiring authentication during online purchases) and is among the first wave of companies in the world that has achieved it.
According to the latest industry trends about security and fraud prevention, Mercury Processing Services International is implementing a more sophisticated machine learning model for its antifraud solution. The solution will be regularly retrained and maintained internally with the aim to provide an extremely powerful layer of security, to ensure the smooth transition from paper, to plastic, to mobile and beyond.