Saudi Arabia’s PayTabs Group, the region’s award-winning payment solutions provider, has entered a strategic agreement with Modirum, a global leader in 3D Secure technologies and services based in Finland, to offer flexible, robust, and cost-effective EMV 3D secure authentication solutions for PayTabs merchants, banks, and processors across the Kingdom.
Cybersecurity is key in today’s digital world. With hackers and cybercriminals trying to snatch user’s personal payment information, the 3D secure payments safeguards fraud and identity theft. According to a Deloitte report, many organizations in the Middle East were targeted by cybercriminals, especially since the pandemic.
PayTabs as a payment processor will provide authentication and identity verification of users with Modirum’s 3DS solutions. This guarantees safe and simple digital payments on all platforms, including desktops, laptops, tablets, and smartphones. Additionally, the software security solution offers eCommerce vendors peace of mind by preventing card fraud on merchant websites and online stores.
“Together with Modirum, we are committed to elevating digital payments on Saudi soil by offering millions of eCommerce merchants, globally certified 3D Secure solutions. This partnership marks a new dimension in payment security and is one step closer to the Saudi Kingdom’s vision for 2030 to digitize the economy and payment ecosystem.”
Certified for Verified by Visa and Visa Secure, MasterCard SecureCode, American Express Safekey, Union Pay and various other card schemes, the solution from Modirum also offers PayTabs merchants multiple integration options and APIs to ensure secure end-to-end transaction processing.
Mr. Jari Heikkinen, CEO of Modirum said that “We are delighted to be working with PayTabs, the leading payment company in Saudi Arabia. Our 3D Server Solution is in use globally and recognized as one of the best in the industry by merchants, payment gateway companies and acquirers. We are proud that PayTabs chose to partner with us in this highly dynamic market and we look forward to continued growth in the region.”