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Visa Inc. will launch an updated Authorize.net, in what it calls a “reimagining” of the venerable gateway. Announced Thursday, the updated version will be available in the second quarter in the United States and in other markets later this year.
Visa’s announcement was one of three it made, including a new service call United Checkout and the availability of the ARIC Risk Hub, made possible by its recent acquisition of Feature space, an anti-fraud technology provider.
The big change to Authorize.net, which Visa acquired via its 2007 acquisition of CyberSource Corp., is that the gateway, with more than 445,000 merchants, will have a data-analysis component.
“Already utilized by small-to-medium sized merchants and acquirers to process roughly $200 billion in annual total payment volume, the new Authorize.net platform will feature a streamlined user interface, [artificial intelligence] capabilities, improved dashboards for day-to-day management, and support for in-person card readers and Tap to Phone,” Visa says in a statement.
Specifically, the new Authorize.net will have simple integration and a new customizable dashboard, built in fraud protection, tools to minimize chargebacks, and multiple acquirer connections, Visa says. It is enrolling merchants in a pilot program now.
Visa also launched Unified Checkout, a tool for merchants that can help consolidate their payment data into a consolidated view. Visa says merchants want a way to integrate at once multiple payment methods, especially new ones, to reduce the likelihood of lost sales at the checkout.
Unified Checkout, which launches in the United States initially and other markets in a test stage in the third quarter, is part of the Visa Acceptance Solutions Platform, merchants using it also have options to manage tools such as fraud management, 3DSecure authentication, and tokenization management.
The ARIC Risk Hub, available globally now, uses Featurespace’s AI fraud protection suite to identify risky transactions and build profiles around genuine customer activity, Visa says.
