TNWS transmits transaction and merchant details in near-real time, so card issuers can make immediate use of better data to improve the accuracy of their authorisations. For instance, card issuers can immediately see if transaction details diverge between the authentication and authorization steps.

The additional rich data provided by the Transaction Notification service includes transaction processing information including risk advice, challenge data and transaction status. It also covers merchant data, including merchant identifiers and acquirer country; and exemption data in cases where there is an exemption based on risk, merchant whitelisting or low transaction value, for example. The extra data reduces false declines and their associated business cost while making card issuers more alert to discrepancies and possible fraud.

“Historically, the data available to banks and card issuers during the authorisation process hasn’t enabled maximum accuracy. With our upgraded TWNS, we aim to improve that, giving issuers extra confidence in their authorisation decision by introducing rich context and additional detail in near-real time. This is a solution that was created in direct response to customer needs, and we are delighted with the positive feedback it is receiving,” said Martina Forster, Senior Product Manager Secure Digital Payments at Netcetera.

Our TWNS also helps customers in the EEA comply with the Payment Services Directive 2 (PSD2), regulations designed to boost security and technological innovation. In particular, it brings card issuers into compliance with PSD2’s dynamic linking requirements – where any given authentication code must only be valid for a certain merchant and certain amount. It also enables clients to meet EBA Fraud Reporting standards.