- areeba launches OOB (out-of-band) to let shoppers use their online banking and mobile app to authenticate their payment transactions with faceID or fingerprint
- The regional player intensifies the cooperation with the Swiss payment expert Netcetera
ZÜRICH–(BUSINESS WIRE/AETOSWire)– Areeba sal, the leading payment processing service provider in the Middle East is strengthening its partnership with the Swiss payment expert, Netcetera. This partnership started in 2020 with the implementation of the latest 3-D Secure protocol, supported by Netcetera’s Access Control Server (ACS). Today, in cooperation with Netcetera, areeba introduces Out-of-Band authentication (OOB) with biometric reading (fingerprint scan or face recognition) as the most convenient method for its customers and their cardholders to do secure and flawlessly e-commerce transactions.
This enables areeba to provide its issuers’ customers (banks and fintechs) with innovative authentication experience through their mobile apps to create tailored cardholders’ authentication experiences that prevent fraud. Instead of entering a password or receiving a text message, the cardholder can use fingerprint or even facial recognition to authenticate a payment through the mobile app.
“areeba is always an early adopter of cutting-edge technologies to provide its customers with the highest level of fraud protection. We are pleased to launch the OOB with Netcetera, a company that combines quality, reliability, service, and innovation. Everything goes smoothly when you have a partner like this. When we started our cooperation, we recognized the big potential for growing the business of our customers and for improving their lifestyles. This guides us during our work. By accepting what Netcetera enables as proven success in other developed markets we act proactively to our customer’s demands and keep their competitiveness at the highest level” – stated Maher Mikati, CEO of Areeba.
The card-not-present authentication solution has customer protection as a priority but combined with the daily needs and habits as is the quick modern lifestyle of the customers, reaches the highest interest and daily usage in the western world already.
According to Statista, in 2022, the digital identity solutions market – of which biometric technology is a major component – was valued at 28 billion US with a forecast of exceeding 70 billion US by 2027.
Ramy Fouda, Director of Sales, Middle East and Africa at Netcetera, commented: “MENA is such a strong market with still great potential. And here at Netcetera we have the expertise, we understand the local regulations, and we have customers and online shoppers keen to experience the latest technology. Strengthening this partnership with a brand like Areeba makes us extremely proud, it makes us feel part of boosting the MENA regional digital payments.” Mikati added that “Great customer experience and journey is the current, but even more the demand of the future. Areeba will continue to attract customers by bringing the latest technology to our markets”.”
Netcetera provides continuous upgrades and updates to support all new trends and client requirements in the payment industry. The payment platform is constantly being upgraded to offer the best solution to its customers on how to overcome challenges, improve their conversion and grow their overall fintech business.
