<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Infosec.webp" alt="M2P Fintech" title="" width="100%" height="253">Never tell tenacious youngsters that something is too challenging. They’ll cross mountains and oceans to come off with flying colors.Our spirited InfoSec rockstars are no exception to this rule.Surpassing all expectations, they ensured we earned the PCI DSS Ver 3.2.1 recertification this year. The gutsy hotshots at Information Protection, Governance, Risk &amp; Compliance (GRC), Middleware, Database Administration (DBA), Application Development, Security Operations Center (SOC), and HR teams played a crucial role in getting this global directive in place for M2P.<h2 class="heading-node" id="9473">Shoutout to our champs</h2>Our gratitude and a huge shoutout to InfoSec champs,&nbsp;<a class="link au lo" href="https://www.linkedin.com/in/uday-thubati-64897356" target="_blank" rel="noopener ugc nofollow">Uday Thubati</a>,&nbsp;<a class="link au lo" href="https://www.linkedin.com/in/krishna-kumar-115597129" target="_blank" rel="noopener ugc nofollow">Krishna Kumar</a>, Vijay Kumar GP,&nbsp;<a class="link au lo" href="https://www.linkedin.com/in/sharath-sankar-532bb7b" target="_blank" rel="noopener ugc nofollow">Sharath Shankar</a>,&nbsp;<a class="link au lo" href="https://www.linkedin.com/in/narasimman-a-79a19b126/" target="_blank" rel="noopener ugc nofollow">Narasimman</a>,&nbsp;<a class="link au lo" href="https://www.linkedin.com/in/ssvrnyl/" target="_blank" rel="noopener ugc nofollow">Sundaravenkataraman</a>, Surender Muruganatham, Girija K, Ragul Subramanian,&nbsp;<a class="link au lo" href="https://www.linkedin.com/in/maathavan-tr-vinayak-2ab153a3/" target="_blank" rel="noopener ugc nofollow">Maathavan Vinayak</a>,&nbsp;<a class="link au lo" href="https://www.linkedin.com/in/sai-prasad-kayarohanam-sivasubramanian-18076910/" target="_blank" rel="noopener ugc nofollow">Sai Prasad</a>, Raghavendharan, and&nbsp;<a class="link au lo" href="https://www.linkedin.com/in/sankara-jayanthi-rj-yogi-7b4759199/" target="_blank" rel="noopener ugc nofollow">Sankara Jayanthi</a>&nbsp;for the successful PCI DSS compliance.Right from conducting internal audit trails, business continuity flows, and incident management processes, to implementing external defense mechanisms such as access control, hardening, source code review, and Vulnerability Assessment &amp; Penetration Testing (VAPT), our vibrant whizzes did a commendable job. They took the lead in adhering to the 12-step PCI DSS requirements and protecting the cardholder environment physically and logically. And they were all game for continuous improvement in risk assessment and mitigation, adherence to global standards, and solutioning &amp; sizing virtual machines and embedded devices.<h2 class="heading-node" id="2a70">Commitments and milestones</h2>Assessed by a PCI Certified Qualified Security Assessor (QSA) from Panacea Infosec Private Limited, this recertification is a significant milestone for us. It validates our commitment to improving cardholder data security, enhancing payment protection, and preventing fraudulent transaction exposure.<blockquote class="block-node" id="avz3jc970">“Payment security and trust are paramount to us at M2P. The PCI DSS recertification stands as a testimony to our continual efforts and diligence in securing cardholder data and preventing card payment frauds of any kind. Hats off to our InfoSec rockstars for the successful compliance efforts! ”<a class="link au lo" href="https://www.linkedin.com/in/kannanrajus/" target="_blank" rel="noopener ugc nofollow">Kannan Raju S</a>&nbsp;— Vice President, IT Infrastructure</blockquote><a class="link" href="https://m2pfintech.com/newsletter/">Subscribe</a>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox.Follow us on&nbsp;<a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/">LinkedIn</a>&nbsp;and&nbsp;<a class="link" href="https://twitter.com/m2pfintech">Twitter</a>&nbsp;for insightful fintech tales curated for curious minds like you.

Meet our Young and Vibrant InfoSec Rockstars

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-8-2-1.webp" alt="M2P Fintech" title="" width="100%" height="253">The star of the month series is back again this March, featuring VASANTHA KUMAR JAYACHANDRAN- our tech support hero. A cinephile and a techie, Vasanth is our system analyst who does incredible firefighting in the tech support team.As we spoke to him about what makes him the star he is, he took us along his amazing five-year-old journey, from being a rookie to becoming a fine fintech enthusiast at M2P.Curious to share a glimpse into what motivates him to give his best? Then, keep scrolling. You may even get lucky to find his secret mantra to success.Here you go.<h2 class="heading-node" id="9625">How do you usually start your workday?</h2>First of all, thank you, guys. Really grateful for the honor.I believe that daily habits set the tone for success or otherwise. So, I ensure my morning routine preps me for the exciting and challenging tasks ahead in the day. Then I kickstart my work mode by creating a to-do list and checking for critical alerts and messages from our internal teams and partners.My goal is to acknowledge client issues and smoothen out the process of issue identification and resolution. The next step would be to ensure that our team sorts out the issues in the shortest TAT possible and makes the client stress-free.Being customer-centric and time conscious are the mantras that keep me thriving throughout the day.What are your main responsibilities in tech support as a system analyst?Ensuring that our clients face zero issues in their journey with us is our ultimate responsibility. And in the event of any technical glitches, I help them resolve the issues without any hassle. To achieve complete efficiency in tech support, we have an unspoken golden rule which goes like this."Stick to the process of any live issue being reported and then resolve it as soon as possible."In our team, we have a practice. We ensure that all our observations, experiences, and outcomes of issue analysis are shared with our peers. Since everyone in the team is aware of all possible issues and the resolution breakthroughs, it helps us identify patterns and expedite issue resolution. I’m really proud of this collaborative knowledge-sharing initiative in our team.<h2 class="heading-node" id="f019">How have you grown through the years as an M2Peer?</h2>When I became an M2Peer, I was a payment industry rookie with just two years of experience. I had minimal understanding of payments and reconciliation.But my life as an M2Peer for the past five years has been an enormous learning curve. It has transformed my understanding of transaction life cycle, payments and made me love all things fintech.<h2 class="heading-node" id="17dd">Is there a quote/saying that motivates you?</h2>Yes, I believe that,"Whatever mess we create, we can and must always be the ones cleaning it up."<h2 class="heading-node" id="dc69">What’s that one thing your colleagues don’t know about you?</h2>Being almost five years as an M2Peer, I’m an open book. My colleagues know everything about me.<h2 class="heading-node" id="4cc9">What inspires you the most about M2P?</h2>The one thing that inspires me the most about M2P is the work culture and how people help each other learn new things here. Having started as someone with little experience, I have been able to gain knowledge on various aspects such as payments and more. M2P is the best place for all beginners to learn and shape their careers.<h2 class="heading-node" id="5166">What’s your idea of a perfect day?</h2>To be honest, finding a perfect day in tech support is tough.Delivering end-to-end tech support is a never-ending process. But there is lots of sunshine when we close out issues on time and receive a client appreciation for our toil.<h2 class="heading-node" id="9956">What was your career path before joining M2P, and how has it changed?</h2>When I graduated in 2015, I was unsure about my career. But growing with M2Peers in the past five years made me learn and appreciate fintech. I have changed my perspective from zero to being the one who likes to learn and explore fintech!<h2 class="heading-node" id="bd97">What are your hobbies/interests?</h2>Most of my hobbies include spending time with my family and doing fun chores. I also like to spend quality time with my nephews. However, my ‘me time’ is spent by watching movies and learning something new.<h2 class="heading-node" id="190e">Anything else you want to share about M2P?</h2>If you want to experience amazing people-centric work culture, kickass intellect, and collaborative knowledge sharing, M2P is the place.Hands down the best!So, adieu folks. Hope you enjoyed our interview with Vasanth Kumar.See you again in our next Star of the Month feature.<a class="link" href="https://m2pfintech.com/newsletter/">Subscribe</a>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox.Follow us on&nbsp;<a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/">LinkedIn</a>&nbsp;and&nbsp;<a class="link" href="https://twitter.com/m2pfintech">Twitter</a>&nbsp;for insightful fintech tales curated for curious minds like you.

Meet M2P’s Tech Support Hero

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-8-2-2.webp" alt="M2P Fintech" title="" width="100%" height="529">Cybercrime is quickly evolving into an escalating issue across the physical and virtual universe. More than 80% of online businesses have reported an increase in cyberattacks since 2020.The digitization of finance has further widened avenues for hackers to create loopholes in financial infrastructure with sophisticated tools and techniques. Wherever there is a software application or a network involved, cybercriminals infiltrate the system to steal sensitive personal information and financial credentials. Vulnerable financial applications don’t stand a chance before the mushrooming attacks and give way to compromised data, loss of money, identity theft, and data breaches.<h2 class="heading-node" id="d923" style="text-align: justify">Nipping vulnerabilities in the bud</h2>As responsible facilitators of digital banking, payments, and lending services, fintech companies take cybersecurity very seriously. According to the Sixth Annual Bank Survey, more than 70% of fintechs vow to treat information security as their top concern in 2022. They adopt technologies, tools, and even philosophies that will help them nip vulnerabilities right in the bud.<h2 class="heading-node" id="d555" style="text-align: justify">Transition to DevSecOps</h2>Standing at the forefront of technological innovation, fintechs need to deliver secure deployments, application releases, and updates at supersonic speed. But as with every new-age technology, fintech <a class="link" href="https://m2pfintech.com/blog/the-world-of-apis-how-they-power-fintech/">APIs</a> are prone to security risks. These risks reduce go-to-market speed, delay update releases and impair code quality.Even though standard practices such as DevOps delivers tremendous deployment velocity with zero downtime, cloud readiness, robust security, and compliance management, it still fails to address security risks at the grass-root level. That’s why financial software developers mandate the need to integrate security into the DevOps process. They began transitioning towards the DevSecOps to build secure and efficient applications at top speed.DevSecOps quickly evolved as the future of financial software development, as it made cybersecurity a fundamental part of the production pipeline, which comprises architecture design, coding, and testing phases. Today, it is a crucial application development methodology for successfully developing fintech applications in regulated and unregulated domains.<h2 class="heading-node" id="dbbb" style="text-align: justify">What is DevSecOps?</h2>DevSecOps, a blend of development, security, and operations, refers to the adoption of security right at the beginning of the software development lifecycle (SDLC). It is more a philosophy than a tech approach that calls for increased collaboration between development, security, and operation teams.<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/DevSecOps-blog-banner-02.webp" alt="M2P Fintech" title="" id="hasokqmme" width="100%" height="529">It resonates deeply with the view of Cloud Security Alliance (CSA) which goes, “Security can be achieved only when it has been designed in. Applying security measures as an afterthought is a recipe for disaster.”This is exactly what DevSecOps solves for.<h2 class="heading-node" id="1b91" style="text-align: justify">Why DevSecOps?</h2>During the days of DevOps, security was included late in the lifecycle only after the development and operation phase. Technological advancements in cloud platforms, microservices, and containers could not move forward, as security turned out to be a major bottleneck. Catching security issues late in the cycle resulted in a lot of rework and late releases. These were some of the reasons why fintech application developers shifted to agile DevSecOps practices for quick and modern application development and deployment.By shifting security left, DevSecOps integrates testing checks between the development and operation functions of every sprint. It integrates security into DevOps by tackling issues within Continuous Integration (CI) and Continuous Delivery (CD) pipelines. In doing so, DevSecOps accelerates software delivery, reduces the duration between code change, production, deployment, and release while reducing security risks.<h2 class="heading-node" id="dbb0" style="text-align: justify">Resolving contentions</h2>The fundamental area of contention between development, security, and operation teams is their change implementation, security monitoring, and stability principles. They become a source of friction that often leads to lags in the software development cycle. DevSecOps serves as an effective tool to resolve this friction by providing a culture that empowers the teams to work in sync.<h2 class="heading-node" id="79ef" style="text-align: justify">Functions of DevSecOps</h2>DevSecOps aims at designing novel solutions that simplify complex processes within the agile framework. It ensures that customers suffer no technical glitches after deployment or release of any update, or application.Encompassing threat modeling and security testing processes in the pipelines saves time, effort, and cost. The automation in security testing helps test for vulnerabilities keeping futuristic risk possibilities in mind. Security reports can be easily generated to identify risk patterns in CI and CD. The continuous feedback process at every phase of development and code integration strengthens rectification and delivery infrastructure.<h2 class="heading-node" id="63bb" style="text-align: justify">4 simple steps to develop a DevSecOps culture</h2>For sustained focus on security and application effectiveness, companies need to build a DevSecOps culture. Developing a ‘Security as Code’ philosophy is a vital step towards creating this culture. It calls for consistent, compliant, and collaborative efforts between development, operations, and security teams.Follow the steps below to make DevSecOps culture a breeze.<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/DevSecOps-blog-banner-03-03.webp" alt="M2P Fintech" title="" id="wnvu7jjqw" width="100%" height="529"><ul class="list-node" id="l13bfyfvi"><li>Garner cooperation&nbsp;— Team silos and conflicts are key reasons why DevSecOps tends to fail in most companies. Garner cooperation through knowledge sharing and reward mechanisms that promote continuous improvement.</li><li>Grant authority and autonomy&nbsp;— Nobody likes dictatorships. Authorize your teams to identify and resolve issues on their own. This autonomy will boost their solidarity and collaboration.</li><li>Appoint strong leaders&nbsp;— Groom or bring in leaders who prioritize security. Make security a top-down mandate. This is a crucial step to building a DevSecOps culture.</li><li>Educate and align&nbsp;— Educate team members on the importance of security, and align the learnings towards DevSecOps tasks. Focus on risk training while also briefing security teams about DevOps methodology.</li></ul>The fundamental goal of the exercise is to make cybersecurity an organization-wide priority, with DevSecOps as a crucial tool.<h3 class="heading-node" id="0f3f" style="text-align: justify">Crucial imperative for fintech application development</h3>A common myth is that developing applications with security in mind impedes innovation. But the security left DevSecOps methodology steers innovation in the right direction and saves a lot of time, effort, and cost.If you are in the business of developing fintech applications, then it’s imperative&nbsp;that you deploy DevSecOps tools and processes as an organization-wide philosophy. As forerunners in implementing the DevSecOps philosophy, we deliver pre-built workflows and AI-powered automation capabilities to deliver secured risk-based authentication at every step. We redefine the software development lifecycle process to accelerate software deployment, product quality, and controlled release cycles and processes.Want to know more about how your business can benefit from the DevSecOps process?Ping us at&nbsp;business@m2pfintech.com.<a class="link" href="https://m2pfintech.com/newsletter/">Subscribe</a>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox.Follow us on&nbsp;<a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/">LinkedIn</a>&nbsp;and&nbsp;<a class="link" href="https://twitter.com/m2pfintech">Twitter</a>&nbsp;for insightful fintech tales curated for curious minds like you.

DevSecOps, the future of financial software development

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-8-1-2.webp" alt="M2P Fintech" title="" width="100%" height="284">Home to 61,400 startups (registered with DPIIT, Govt of India), India hosts the 3rd largest startup ecosystem, after US and China. These newbies drive the digital economy through their innovative technology adoption, mobile-first, and customer-centric strategies.Dedicated to supporting such fledglings with their digital transaction needs is Karbon, another fintech startup with best-in-class expertise in corporate banking.Founded by Pei-fu Hsieh and Amit Jangir in 2019, Karbon helps growing businesses issue cards, manage payouts and deliver loyalty programs for their customers. Their Unique Selling Proposition helps companies scale faster, as Karbon promises quick corporate cards issuance without any fixed deposits or personal guarantees.<h2 class="heading-node" id="28d5">Need for card issuance support</h2>Though Karbon delivers hassle-free banking solutions with terrific business models and expertise in managing new-age corporate banking, they needed support with card issuance. They were looking for a reliable card partner with a strong banking network, to facilitate seamless card issuance.<h2 class="heading-node" id="c08e">Co-creating solutions</h2>After evaluating several issuers, Karbon chose to partner with us. Our strong banking network proved to be a strong vantage point for Karbon to deliver its powerful banking solution. At present, we run Karbon card solution program on both Visa and MasterCard rails.We help Karbon by taking complete charge of end-to-end payments, operations, reconciliation, and market dynamics strategies. Our focus areas enable them to capture a significant share of the SME, MSME, and start-up market and to capitalize on the first-mover advantage.This is what Amit Jangir, the co-founder of Karbon had to say about our relationship.<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-10-4.webp" alt="M2P Fintech" title="" id="3965wgy0a" width="100%" height="284">Benefits achieved<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-9-4.webp" alt="M2P Fintech" title="" id="824iw670n" width="100%" height="284"><h2 class="heading-node" id="4cee">How we help Karbon achieve 30% increase in transaction volume</h2>We leverage our trusted bank partnerships and facilitate seamless onboarding, Know Your Customer (KYC), card design, and collateral finalization. By serving as a switch, we enable transaction authentication and authorization, in addition to reconciliation and settlement.Bank partnershipBank partnerships are a critical part of any card issuance program. We leverage our SBM Bank partnership and help Karbon with payment card issuance.Onboarding corporates and individualsSeamless onboarding, <a class="link" href="https://m2pfintech.com/blog/know-your-customer-kyc-the-need-for-authentication/">Know Your Customer (KYC), </a>and Know Your Bank (KYB) procedures form the perfect first impression for customers. We help Karbon smoothen KYB, KYC, and VKYC processes, as regulated and approved by SBM Bank protocol. This includes activities such as picking up KYB documents from corporates to onboarding and creating frictionless verification via Aadhaar, OTP, and PAN validation.Card design and collateral finalizationInitially, Karbon had a vanilla card design, which is a basic credit card with minimal to zero perks and fees. We recommended the need to&nbsp;<a class="link au ml" href="https://m2pfintech.com/blog/payment-cards-design-made-simple-heres-what-you-need-to-know/" rel="noopener">enhance card design</a>&nbsp;for their virtual and physical cards. Our card design team revamped and customized card designs by placing logos in the right places and we also obtained the necessary approvals from the card network and bank.Transaction authenticationWe act as a switch for transaction authentication and function as authorizers for transactions, as per the parameters defined by Karbon. When a transaction is initiated, the acquirer will send data to&nbsp;<a class="link au ml" href="https://m2pfintech.com/" target="_blank" rel="noopener ugc nofollow">M2P</a>, and we will take auth approval from Karbon to ensure that the right debit has taken place. No matter what, we ensure that the decision-making power always lies with Karbon.Reconciliation and settlementAs Karbon’s card program manager, we handle reconciliation and settlement. We manage card operations completely and share report dashboards with Karbon to drive data-driven decision-making.Now, this is not the end of the story. We hope to support startup ecosystems and established players across the globe with scalable, secure, and compliant card issuance and management solutions.Do you need help with card issuance?Get in touch with us at&nbsp;business@m2pfintech.com.<a class="link" href="https://m2pfintech.com/newsletter/">Subscribe</a>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox. Follow us on&nbsp;<a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/">LinkedIn</a>&nbsp;and&nbsp;<a class="link" href="https://twitter.com/m2pfintech">Twitter</a>&nbsp;for insightful fintech tales curated for curious minds like you.

How M2P helps Karbon increase its transaction volume by 30%?

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-8-3-1.webp" alt="M2P Fintech" title="" width="100%" height="358">Did you know it takes just 6 seconds to hack any credit or debit card?As the number of Card-Not-Present (CNP) transaction increases, so do the associated risk factors. The 6-second hacking window is quite scary, especially when you are a bank or a card issuer.Even though the end-consumer faces losses, card issuers and banks are the ones who will have to bear the major brunt, including refunding the customer, dealing with chargeback fees/fines, and investigation charges which often lead to reputation loss.<h2 class="heading-node" id="cae2" style="text-align: justify">Modus operandi of fraudsters</h2>Card payment fraud happens in both card-present and card-not-present scenarios. Usually, the customer gets unsolicited calls, text messages, emails, or unauthorized software update requests under the pretense of KYC updates, or gift offers.Scamsters pretend to be genuine in these communications and ask consumers to share personal information, card credentials, PIN, or OTP details. Phishing, skimming, and mail intercepting are among the key modus operandi that criminals use to defraud consumers of their money, data, and identity.Other usual scenarios include:Stolen or lost card fraud-&nbsp;In this situation, the card either slips out of the cardholder’s hands or is stolen. The fraudsters then use the card to go on a shopping spree and then discard the card.Account takeover-&nbsp;One of the rising crime scenarios today is complete account takeover. Here the fraudsters shoulder surf or steal card details and get in touch with the card-issuing company. Pretending to be the cardholder, they would falsely report a stolen card and ask for a replacement with modified address details. The genuine cardholder will know about this scam only when the card is used.Page Jacking-&nbsp;Here, the scamster redirects an e-commerce store page and takes the user to their malicious portal. This page would contain links with the potential to crack network security.Now, this is only the tip of the iceberg. Each day, fraudsters develop more sophisticated methods to commit card payment fraud.<h2 class="heading-node" id="75ac" style="text-align: justify">Signs banks need to look out for to identify fraudulent activity</h2>Card issuing banks need to be vigilant and check for signs to nip card scams in the bud. They need to design systems to proactively identify suspected fraudulent activity in real-time and decline these attempts before the cardholder is affected.Suppose a bank notices anomalous spending patterns, erratic location changes, or unexplainable large ticket transfers, they need to notify the cardholder and investigate the matter immediately.<h2 class="heading-node" id="4a4f" style="text-align: justify">What can banks do?</h2>Delivering secure, smooth, and customer-friendly online payments is critical for banks and card issuing companies. Otherwise, customers will leave in hoards, shifting their loyalty to competitors. Choosing a suitable authentication method is crucial to eliminate security risks in card payments.Gone are the days when binary authentication such as static passwords and usernames were unbreakable. Today cyber criminals use advanced technology that can decode these credentials in seconds. Hence, banks need to adapt to a more robust, scalable form of authentication that can be adjusted according to different risk levels.<h2 class="heading-node" id="9cf8" style="text-align: justify">The solution: Risk-Based Authentication (RBA)</h2>When it comes to the standard credential-based authentication process, the user will have to undergo two-factor authentication (2FA) or Multi-Factor Authentication (MFA), which is a One-Time Password (OTP) or password every time a transaction happens.But with risk-based authentication, it is not necessary that the transaction must go through 2FA. Instead, every single transaction is monitored and assessed for risk. And a risk score is assigned to evaluate if the transaction can occur securely.In conjunction with a few other parameters, including business rules/logic, this risk score effectively decides if a transaction requires a challenge or if it can be allowed to go through frictionless (without an explicit 2FA).Case studies from different markets suggest that ~90% of transactions tend to be low risk and can thus be allowed to go through frictionless. Around 8% may require some form of 2FA, and ~2% tend to be high risk and can be declined.Risk-based authentication helps banks cut fraud losses, reduces transaction drop-offs, and ensures regulatory compliance. It plays a critical role in boosting e-commerce by balancing customer experience and controlling fraud. Dynamic RBA systems power card issuers to identify optimal risk levels and deliver quick, secure, and seamless payments.More info…Risk-based authentication is a real-time process that assesses underlying risks and applies appropriate levels of controls. Also known as adaptive authentication, the identification happens based on the user’s risk profile when they try to authenticate who they claim to be.An increase in the user’s risk profile leads to stricter and more restrictive methods of authentication. Risk-based authentication uses behavioral profiling to assess risk and protect customer data.Risk-based authentication ensures a protective guard against complex security breaches and hacking attempts. The authentication uses various parameters such as the user’s transaction history, merchant profile, IP &amp; location, device usage history, and other critical parameters to assess risk.Based on the evaluation, the Access Control Server (ACS) decides if the user can complete the transaction without any additional factor of authentication or if there is a need for an additional factor of authentication such as the following.<ul class="list-node" id="kzbf8joyr"><li>One time passcode</li><li>Permanent or temporary PIN</li><li>Security question (knowledge-based authentication)</li><li>Biometric data, such as a fingerprint</li><li>Mobile phone-based authentication such as Swipe to Pay</li></ul><h2 class="heading-node" id="39bb" style="text-align: justify">Setting up an RBA system</h2>Designing and deploying a quality risk-based authentication system involves implementing&nbsp;<a class="link au mv" href="https://m2pfintech.com/blog/3d-secure-your-barrier-against-cyber-attacks/" rel="noopener">3D Secure (3DS)</a>. Now, 3D Secure is a payments security protocol that adds a strong layer of security to CNP transactions by tying payment authorization to the online authentication process.To authenticate the cardholder, the transaction needs to be redirected to the Access Control Server (ACS). Issuers can define their risk profile and set up the ACS to control the customer authentication experience based on the risk analysis. After the customer completes the authentication, the response is sent back to the merchant and processing bank.<h2 class="heading-node" id="46cd" style="text-align: justify">What is the ACS?</h2>Access Control Server (ACS) is the server that enables bank customers to authenticate themselves and complete card-based online transactions securely. The ACS is built on the 3-D Secure rails defined and certified by global card networks, including Visa and Mastercard.While the initial version of the 3DS protocol (3DS 1.0) was designed to boost customer confidence, it did not provide the most optimal transaction experience and resulted in a high percentage of online drop-offs and cart abandonments in quite a few markets.The updated protocol version, EMV 3DS or 3DS 2.0, is designed by EMV, the consortium of global card networks. This protocol is optimized to support in-app payments, facilitate risk-based authentication via the exchange of richer data parameters, and encourage the use of dynamic out-of-band authentication techniques such as biometrics.<h2 class="heading-node" id="89f6" style="text-align: justify">Features of our ACS system</h2>Our ACS system guarantees top-class customer security while ensuring a seamless transaction journey. It is easily configurable and provides issuers the flexibility to design a custom authentication experience for their customers.Some of the key features of our ACS<ul class="list-node" id="tpiux2p6i"><li>3DS 2.0 certified with support for Visa, Mastercard</li><li>Cloud-ready system with the platform set up in India and the UAE</li><li>Highly scalable and configurable platform</li><li>Best-in-class success rates and performance</li><li>24*7 application monitoring and production/operations support</li><li>Support variety of issuer integration options — real-time API fetch, batch file upload via SFTP, and push API</li><li>Comprehensive risk-based authentication system with scope for advanced rule design using an external data feed</li><li>Multiple modes of step-up, including OTP (SMS/email), swipe to pay (push notification), biometrics, soft tokens, etc.</li><li>Role-defined access to comprehensive reports and dashboards</li></ul>Now, this is Risk-Based Authentication in a nutshell for you.Got questions on how to implement a dynamic ACS system? Ask us at&nbsp;<a class="link au mv" href="mailto:business@m2pfintech.com" target="_blank" rel="noopener ugc nofollow">business@m2pfintech.com</a>.<a class="link" href="https://m2pfintech.com/newsletter/">Subscribe</a>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox. Follow us on&nbsp;<a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/">LinkedIn</a>&nbsp;and&nbsp;<a class="link" href="https://twitter.com/m2pfintech">Twitter</a>&nbsp;for insightful fintech tales curated for curious minds like you.

Why is Risk-Based Authentication (RBA) critical for banks?

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-8-2-3.webp" alt="M2P Fintech" title="" width="100%" height="529">BNPL (Buy Now Pay Later) has become the talk of the payments industry for a good reason. It gives shoppers the ultimate convenience of instant credit access, zero interest rates, and hassle-free repayment options. Irrespective of the demography, BNPL provides a level shopping field for consumers across credit scores and purchase ability. It triggers consumer buying behavior by reducing the cost of purchase at the point of sale. Merchants and lenders gain significant competitive advantages when they deploy BNPL solutions. This inclusive consumer financing instrument helps merchants increase conversions, customer acquisitions, Average Order Value (AOV), and customer retention. Lenders benefit from optimal utilization of credit lines and the ability to build a scalable credit funnel while increasing revenue.<blockquote class="block-node" id="c39qhv3se">The Indian BNPL market size is expected to reach $ 56 billion by FY26 and accounts for 5 percent of digital P2M (Peer to Merchant) payments by FY26E, according to HDFC Securities.</blockquote><h2 class="heading-node" id="64ab" style="text-align: justify">Thriving Business Models</h2>The rise of consumer demand in the BNPL market has led lenders to rethink business models on a case-to-case basis. However, some of them are quite consistent in delivering profitability across lender profiles. Let’s check out the thriving business models that lenders use to drive the BNPL narrative forward.<h2 class="heading-node" id="a84f" style="text-align: justify">Card-based BNPL model</h2>Also known as post-purchase BNPL, the card-based BNPL allows lenders to offer no-cost EMIs to existing debit or credit cardholders after they purchase on merchant platforms. Banks, NBFCs, and fintechs can issue virtual cards for small-ticket purchases to consumers, which is acceptable with almost every merchant accepting card payments. Falling under the open network category, this model doesn’t require any prior agreement with merchants and lenders. Core considerations<ul class="list-node" id="ngcpo711t"><li>Only suited for banks that own a significant number of cards issued to their consumers.</li><li>This post-purchase BNPL solution doesn’t serve the purpose of increasing purchases and revenue for merchants.</li><li>Could cannibalize the bank’s credit card revenue when consumers with debit cards start deferring payments through post-purchase BNPL.</li><li>Doesn’t target new bank users, as it extends no-cost EMIs to existing cardholders.</li></ul><h2 class="heading-node" id="aad5" style="text-align: justify">Multi-lender platform model</h2>In this model, lenders can use BNPL payment options across merchants for their underwriting and risk management strategies. When consumers apply for instant credit for buying products or services across the merchant platform, the information is passed onto the cohort of lenders who access consumer risk profiles and choose to provide credit.For instance, if lender A declines the consumer, the same consumer profile is accessed by lender B and so on until that consumer is approved for credit. This model is the most consumer-friendly option as there is a high chance that one or more lenders will approve the credit. Examples of these providers include GreenSky, Divido, ChargeAfter, and Vyze, serving merchants like Abes of Maine, Wayfair, and Home Depot.Core caveats<ul class="list-node" id="55te5atgx"><li>Pits lenders against each other. Hence there is increased competition to issue credit and make profits.</li><li>Lenders won’t get control of the buyer journey and purchase behavior as the BNPL platform provider and merchant control the consumer data.</li><li>As multiple lenders are involved in the process, their brand recognition suffers.</li><li>The recollections and repayments cycle is managed by the BNPL platform provider, which makes them the primary point of contact for shoppers.</li></ul><h2 class="heading-node" id="0a01" style="text-align: justify">Embedded Checkout Model</h2>Embedding BNPL in the checkout page enables instant credit to consumers across merchant platforms. It also helps with personalization and consumer lifecycle management. In this model, lenders provide capital and underwriting facility to fund the embedded pay later option at the merchant’s checkout. The lenders enjoy an exclusive partnership with the merchant and can analyze shopper data to strengthen their decisions. They can tie up with a technology stack provider or build their own platform for issuing credit. One such example is the Amazon Pay Later backed by Capital Float and IDFC First Bank.Points to Ponder<ul class="list-node" id="o3urwdnon"><li>Lenders won’t enjoy brand recognition in this model as the merchant controls the entire customer journey.</li><li>Lenders need to align with merchants and tech stack providers to manage the risk and changes in the business strategy vis-à-vis rewards, promotion campaigns, etc.</li></ul><h2 class="heading-node" id="9cd5" style="text-align: justify">Self-enabled BNPL model</h2>Using this model, lenders can start their own BNPL platform and control the complete consumer loan cycle right from loan origination to credit line issuance, transaction management, repayment, and collection. This will provide them with the opportunity to integrate the Pay Later checkout option with preferred merchants. They can also have a dedicated interface to assist consumers with the entire BNPL lifecycle like transactions management, credit limit utilization, repayments, etc., through a dedicated application or by integrating this interface with the existing consumer application. Lenders can offer preferred customers with extended EMIs and rewards programs. Examples of this model include M2P’s BNPL stack for launching pay later programs for lenders.Key Benefits<ul class="list-node" id="fczisztz4"><li>Lenders have the option to manage the entire loan lifecycle and customize the platform for each consumer segment present across the merchant platform.</li><li>Based on the target consumer base and average ticket size, lenders can decide on the merchants they want to onboard on their platform.</li><li>Lenders get the option to own the complete consumer buying journey and increase brand recognition.</li><li>As the BNPL solution caters to people with low credit scores, making timely repayments gives lenders insights into further lending opportunities and builds consumer credit scores.</li></ul><a class="link au ns" href="https://m2pfintech.com/" target="_blank" rel="noopener ugc nofollow">M2P</a>&nbsp;enables banks, NBFCs, and fintechs to launch BNPL programs by leveraging its multi-module expertise and capability to manage onboarding, credit line issuance, lender management, collection, reporting, and reconciliation. Our full-stack Lender Management System helps lenders manage entire loan lifecycles across different merchants and platforms. Multiple use cases can be built as per the value chain requirements such as credit limit criteria, KYC, and multi-channel distribution such as physical/virtual card, UPI, wallets, NFC, and direct integrations with merchants, repayment options, and rewards/cashback, among many other data points. We help lenders go to market with one-click BNPL checkouts, card issuance, and seamless integrations at a 5x faster pace.Want to deploy the best BNPL solutions? Write to us at&nbsp;<a class="link au ns" href="mailto:business@m2pfintech.com" target="_blank" rel="noopener ugc nofollow">business@m2pfintech.com</a>&nbsp;and let’s get started.<a class="link" href="https://m2pfintech.com/newsletter/">Subscribe</a>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox. Follow us on&nbsp;<a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/">LinkedIn</a>&nbsp;and&nbsp;<a class="link" href="https://twitter.com/m2pfintech">Twitter</a>&nbsp;for insightful fintech tales curated for curious minds like you.

Winning Business Models for BNPL Lenders

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-8-8.webp" alt="M2P Fintech" title="" width="100%" height="383">Over the last few years, e-commerce and <a class="link" href="https://m2pfintech.com/blog/the-rise-of-digital-payments/" target="">digital payments</a> have become a comfortable cosmos for millions of shoppers worldwide. Card-Not-Present (CNP) transactions, in particular, constitute a major chunk of online payments.<h2 class="heading-node" id="cbf4">Card-not-present transactions</h2>Essential to both in-store and online businesses, CNP payments reduce the risk of customer churn and cart abandonment. Imagine a customer does not have a physical credit or has a visibly battered card that cannot be scanned. They can still pay for the purchase using the CNP facility across the counter or telephone or digital channels.But like most things in life, CNP payments are a double-edged sword. They are highly sophisticated yet so vulnerable to security breaches. When a scamster gets hold of the credit card number, name, three-digit security code (CVV), and expiration date, stealing cash and identity becomes a cakewalk.<blockquote class="block-node" id="o40ybrinh">As of 2021, CNP frauds were 81% more common than card-present scams, resulting in tremendous costs to banks and merchants.</blockquote><h2 class="heading-node" id="66f3">Cost of payment fraud</h2>The cost associated with payment fraud is immense for banks, merchants, and payment service providers. They’ll have to deal with customer refunds, additional chargeback fees, fines, and investigation charges. Though the amount is usually refunded to the victim, it still causes distress and mistrust.<h2 class="heading-node" id="b033">Best way to prevent CNP fraud — PCI 3DS</h2>The way to avert CNP fraud is to implement stringent controls that validate the identity of the cardholder. PCI 3D Secure plays a significant role in enabling identity validation and access control, thereby reducing the costs and inefficiencies associated with payment fraud in a CNP scenario. Banks and card payment service providers need to comply with PCI 3DS protocols to fortify transaction security.<h2 class="heading-node" id="deaa">What is PCI 3DS?</h2>PCI 3DS is an advanced EMV messaging procedure that authenticates cardholders when making online purchases. It facilitates seamless data exchange between merchants, cardholders, and card issuers, thereby providing an additional layer of security to avoid CNP fraud and make e-commerce secure.<h2 class="heading-node" id="f06c">Key components of PCI 3DS Core Security Standard</h2>The PCI 3DS Core Security Standard serves as a framework for EMV 3DS functions to execute security controls. It supports the integrity and confidentiality of 3DS transactions and pertains to institutions that leverage 3DSS, DS, and ACS, the key components of the PCI 3DS security standard.Here’s a quick peek into what each component means.•&nbsp;3DS Server (3DSS)&nbsp;contributes the functional interface between the 3DS requester environment and the DS.•&nbsp;3DS Directory Server (DS)&nbsp;holds the list of valid card ranges for which authentication may be available. Further, it also coordinates communication between the 3DSS and the ACS systems to ascertain whether authentication mechanisms are available for a particular card number and device type.•&nbsp;3DS Access Control Server (ACS)&nbsp;comprises the authentication rules and is managed within the issuer domain.The physical and logical security requirements for the PCI 3DS Core Security Standard are structured as follows.Baseline Security Requirements<ul class="list-node" id="qtc61d1ze"><li>These are technical and operational security requirements that reflect general information security principles and practices common to industry standards.</li><li>These requirements should be considered for all types of environments.</li></ul>3DS Security Requirements<ul class="list-node" id="qgbh7rkln"><li>They provide security controls specifically intended to protect 3DS data, technologies, and processes.</li></ul><h2 class="heading-node" id="1289">Difference between PCI 3DS and PCI DSS</h2>The PCI 3DS and PCI DSS are two separate standards intended for varying requirements and entities. The PCI 3DS applies to environments where 3DSS, ACS, and/or DS functions are performed, whereas PCI DSS applies wherever payment card account data is stored, processed, or transmitted.If you want to know more about PCI DSS, check out our blog on the&nbsp;<a class="link au nb" href="https://medium.com/m2p-yap-fintech/12-requirements-of-pci-dss-157747451888" rel="noopener">12 REQUIREMENTS OF PCI DSS.</a>Most 3D secure entities possess both PCI 3DS and PCI DSS responsibilities. In some cases, a 3DS entity does not store, process, or transmit any payment card account data. For instance, in the case of EMV payment tokens, the 3DS entity is involved ONLY in 3DS transactions. The 3DS entity may not be subject to PCI DSS in this scenario. In all other cases, entities should refer to their acquirer and/or the payment brand(s) to determine their compliance obligations to a PCI standard.So, are you looking to get PCI DSS certified and compliant? We can help.<a class="link au nb" href="https://m2pfintech.com/" target="_blank" rel="noopener ugc nofollow">M2P</a>&nbsp;has extensive experience in ensuring compliance for numerous players in the card payment industry. Write to us at&nbsp;<a class="link au nb" href="mailto:business@m2pfintech.com" target="_blank" rel="noopener ugc nofollow">business@m2pfintech.com</a>, and let’s get started!Here’s to more dynamically authenticated 3DS transactions!<a class="link" href="https://m2pfintech.com/newsletter/">Subscribe</a>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox.Follow us on&nbsp;<a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/">LinkedIn</a>&nbsp;and&nbsp;<a class="link" href="https://twitter.com/m2pfintech">Twitter</a>&nbsp;for insightful fintech tales curated for curious minds like you.

Prevent CNP Frauds with PCI 3DS

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-8-5-1.webp" alt="M2P Fintech" title="" width="100%" height="284"> We are back this February to spotlight our very own Star of the Month, Balakrishnan Elumalai — DVP, Business Operations.A movie buff and a passionate biker, Bala never misses watching his favorite films and going on long rides. As our FinOps leader, he is a specialist in fixing processes and solving problems.Today he shares with us, how he steers FinOps while trying to clear his spooky mailbox (that’s clearly a challenge!). And hold on, he also spills the beans on his growth journey as an M2Peer.Read on to know more about his responsibilities and his idea of a perfect day!<h2 class="heading-node" id="7382">1. How do you usually start your workday?</h2>I start my day on a positive note, by making a cool to-do list. As soon as I reach the office, I catch up with my mailbox which has an uncanny ability (will explain that below). After that, I get on a discussion with my team to chart out the course for the day.Now, let me share how my email box acts funny. You see, I receive most of my priority jobs through emails and I always try to read them all. Sometimes, the more I read, the more emails keep flooding my mailbox. The torrent of email inflow becomes so scary, that I feel the unread count only increases and doesn’t seem to reduce at all. At times, I feel my outlook may run out of numbers to count one day… LOL!<h2 class="heading-node" id="c38d">2. What are your main responsibilities as DVP- Business Operations?</h2> At M2P, I lead Financial Operations (FinOps). My daily focus includes tracking vendor payments and payables in the form of Account Receivables (AR) and Account Payables (AP). I help my team keep track of the invoices we raise every day while checking pending payments and follow-up emails.<h2 class="heading-node" id="6046">3. How have you grown through the years as an M2Peer?</h2> I started out at M2P in 2017. And I am proud that my team and I will be completing our 5th year soon. Earlier, I was handling Human Resources, Administration, Card Operations, and Finance. Now after transitioning to FinOps, it is very inspiring to see how we have grown as a team in the past few years. I have learned a lot from my fellow M2Peers and our founders.<h2 class="heading-node" id="fec7">4. Is there a quote/saying that motivates you?</h2>There isn’t a phrase as such. But there is a word that brings the best out of me.It’s&nbsp;‘Self- confidence’.I believe that being confident in every single thing I do drives and motivates me.<h2 class="heading-node" id="e8df">5. What’s that one thing your colleagues don’t know about you?</h2> Well, nobody knows that I’m a short-tempered person by nature. My colleagues wouldn’t believe this as I never lose my head at work. But, outside work, people can see that I’m hot-headed.<h2 class="heading-node" id="95a5">6. What inspires you the most about M2P?</h2> It’s the way Madhu, our co-founder works. Working alongside him for the past 5 years has been a huge inspiration and has taught me both life and business skills.<h2 class="heading-node" id="accf">7. What’s your idea of a perfect day?</h2>My best day would be when my emails count to zero! Yeah, that’s something I’d love to see. Other than that, my perfect day would be when I chill out with my family.<h2 class="heading-node" id="834c">8. What was your career path before joining M2P, and how has it changed?</h2>Before joining, I was involved in commercial activities such as billing and maintaining logistics. Since M2P, my career started to take a definitive shape where I now lead finance operations and contribute to my team the most.<h2 class="heading-node" id="c604">9. What are your hobbies/interests?</h2>Cricket and bike rides are my jam. I play weekly matches and enjoy exploring new places whenever I can. But as a movie buff, my favorite activity is to watch movies. I hardly miss out on new releases!As an avid reader, I learn every day at my mailbox library.<h2 class="heading-node" id="c61e">10. Anything else you want to share about M2P?</h2>It’s been a fun five years with M2P. And I want to say to all my M2Peers,&nbsp;‘Keep rocking you guys!’<a class="link" href="https://m2pfintech.com/newsletter/">Subscribe</a>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox. Follow us on&nbsp;<a class="link" href="https://www.linkedin.com/company/m2pfintech/mycompany/">LinkedIn</a>&nbsp;and&nbsp;<a class="link" href="https://twitter.com/m2pfintech">Twitter</a>&nbsp;for insightful fintech tales curated for curious minds like you.

Meet Balakrishnan, M2P’s Operations Guru

<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-8-9.webp" alt="M2P Fintech" title="" width="100%" height="358">Did you know that your payment card could be your best brand ambassador?It doesn’t matter whether you are a business, Non-Banking Finance Company (NBFC), or a bank. You can issue prepaid cards, credit cards, and debit cards that will help drive brand loyalty and revenue.Wonder how?Simple. By customizing payment cards.<h2 class="heading-node" id="be40" style="text-align: justify">Why is payment card design important?</h2>Bland, run-of-the-mill cards lack soul. They do not call or speak to customers on a subconscious level and hence do not elicit usage.On the other hand, adding a personalized twist to cards enhances the emotional bond between the cardholder and the issuer. Card customization boosts customer acquisition, retention, transaction frequency, and value.Consumers worldwide prefer card issuers that deliver cool customized cards with family/pet portraits or pictures of their choice. But businesses and banks need to remember that whatever the design personalization may be, certain standardized elements need to be consistent across cards.<h2 class="heading-node" id="1bc2" style="text-align: justify">Design standardization parameters</h2>Here are some basic parameters that we need to adhere to while designing standard yet customized payment cards.<h3 class="heading-node" id="2149" style="text-align: justify">Card size requirements</h3>It goes without saying, card design starts with opening an empty artboard. And the next step is deciding the size of the payment card. Here are some standardized card dimensions.<ul class="list-node" id="gbcsqonb1"><li>Width and height of card: 85.60 mm x 53.98 mm (3.370 in × 2.125 in)</li><li>Radius of corners: 3.175 mm, in accordance with ISO/IEC 7810#ID-1 standard</li><li>Overall breathing space: 3 mm</li></ul>The size is all set!<h3 class="heading-node" id="aa47" style="text-align: justify">Types of design</h3>Payment card design can be classified into three types.· Abstract· Conceptual· Logo-basedAbstract — Creating a payment card with shape, form, color, and gestural marks.<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/two.webp" alt="M2P Fintech" title="" id="ari13g4jx" width="100%" height="358">Conceptual&nbsp;— Designing based on a particular concept such as gift, meal, travel, teenagers usage, and so on.<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/three.webp" alt="M2P Fintech" title="" id="iosfe6k87" width="100%" height="358">Logo-based&nbsp;— Here, the designer needs to stick to the bank or card network norms and design criteria. In these cases, the requirement comes with a standard design opportunity based on the client’s brand logo and color palette.<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/one.webp" alt="M2P Fintech" title="" id="2ak8lsd0m" width="100%" height="358">Now, let’s check out key elements that need to be present in payment cards.<h2 class="heading-node" id="e02b" style="text-align: justify">Elements of a payment card</h2>Any credit, debit, or prepaid card contains certain components that are crucial to establish identity and security, and enable payment processing. Card issuers cannot compromise on these element placements at any point in time.<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-9-5.webp" alt="M2P Fintech" title="" width="100%" height="358">Front side of a card&nbsp;<img src="https://m2p-website-file.s3.ap-south-1.amazonaws.com/m2p-website-file/marketing-cms/m2p-blog/2022/05/Artboard-1-copy-10-5.webp" alt="M2P Fintech" title="" width="100%" height="358">Backside of a card1. Issuing bank logo or nameThe issuing bank is the bank that provides network branded payment cards to the customers. The issuing bank follows stipulated norms for logo placement on the card and the norms vary from one card network to another.2. EMV chipThe tiny metal chip that looks like a sim card is called the EMV Chip. EMV (Europay, MasterCard, and Visa) is a global standard for credit and debit payment cards based on chip card technology.The EMV chip is a square metal chip placed on the front side of the payment card. It stores sensitive information and is a crucial security enabler. Hence no other element should be placed on the corresponding space at the back of the card. The cardholder should make sure that no damages are done to the chip as it contains a critical security code.3. Contactless iconThe Wi-Fi symbol or NFC symbol on the card’s front side is the contactless icon. This icon facilitates contactless payments without entering the Personal Identification Number (PIN) on Point Of Sale (POS) machines.4. Card network logoRuPay, Visa, and MasterCard are some of the popular card networks in India. They connect the issuing bank with the acquiring bank to facilitate online transactions. It is mandatory to place their logos on the card.5. Cardholder nameThe cardholder's name can be printed in two ways on the card. It could be embedded via embossed printing or indenting printing to provide a personalized touch and inlay feel. If the card is provided in an instant issuance process, then the cardholder's name cannot be displayed.6. Magnetic stripeThe grey magnetic stripe at the back of the card stores all the sensitive information. It can be read-only through a specialized card reader machine that receives payments. As per International Organization for Standardization (ISO) standards, the magnetic stripe should be placed only on the backside, in either the upper or lower position.7. Card numberThe most sensitive data on the payment card is the 14–19 digit card number. These unique series of digits help the cardholder make successful online purchases by identifying the account with the card-issuing bank. The card number can be on the backside if embedded via indenting printing, but for embossed printing, the card number should be placed only in the front.8. Card product typeEvery card has its product category name, like Platinum, Signature, Business, and Classic, to name a few. The card category can be printed on both the front and backside as per card network norms. Each category comprises specialized features and offerings that are defined by their issuing banks. This category name should be clearly printed on the card.9. Validity dateSome cards require both the issuing date and expiration date to be printed. And some contain only the expiry date. These dates help cardholders understand the validity duration of their cards. Banks track these dates and upon expiration, they send a new card to the cardholder's mailing address.10. Security codeSecurity code is also referred to as Card Verification Value (CVV), Card Identification (CID), Card Verification Code (CVC), or Card Security Code (CSC). The security code is included in the payment card to provide an additional layer of security for seamless online shopping. It is usually printed on the backside of the card and alongside the signature panel, based on the CVV type.11. HologramThe hologram proves that the card is authentic and not a duplicate one. Some of the card issuers place their holograms on the front side of the card.12. Signature panelThe signature panel comes into play whenever there is a suspicious transaction. It is usually placed on the back of the card. Businesses can always match the signature on the card with the actual signature of the cardholder to check authenticity. Every cardholder must sign on the signature panel.13. Bank detailsGenerally, the contact number of the issuing bank’s call center is included in the card. This number is intended to be of quick help if the card is not working or needs to be blocked. The issuing bank address is also displayed to help in case of a lost card, where the finder can deliver the card to the respective bank. The banks also include their terms and conditions on the card.Apart from the above-mentioned mandatory elements, card-issuing banks and businesses need their branding elements to present on the card. That’s when end customers will relate to and engage with the issuing business.So, personalizing is not just for end customers. In fact, it's more of vanity for them.&nbsp;But for card issuer banks and businesses, customization is critical.<h2 class="heading-node" id="bc67" style="text-align: justify">How we enable customized card issuance?</h2>Issuing visually attractive and customized payment cards are non-negotiable to gain consumer loyalty and brand recall. We at M2P understand how imperative it is for card issuing companies and banks to deliver innovatively designed, and customized payment cards.That’s why we co-create white-labeled and co-branded card issuance and personalization solutions for banks, NBFCs, and online businesses. Here’s how we help our client partners issue and manage customized payment cards for their customers.By fusing business requirements, customer expectations, and innovation, we deliver white-labeled and co-branded card designs that speak to the end customer. Our full-fledged, mobile-first, customizable API stack enables hassle-free onboarding and the <a class="link" href="https://m2pfintech.com/blog/know-your-customer-kyc-the-need-for-authentication/">Know Your Customer (KYC) process</a>. We also deliver limit configuration, inbuilt security and compliance, and end-to-end support from design to dispatch.We drastically expedite card issuance time and businesses can go to market with customized cards within days. Our cards are <a class="link" href="https://m2pfintech.com/blog/pci-dss-the-payments-armour/">PCI DSS</a>, ISO 27001, and AICPA SOC 2 compliant with centralized security updates, monitoring, patching, and remediation features. Our in-house token generation platform delivers network-branded tokenization solutions that manage the token life cycle.Leveraging our vast experience in issuing cards worldwide, we’ve put together a checklist you need to tick off before designing payment cards.Here you go.<h2 class="heading-node" id="4947" style="text-align: justify">Tick off the card design checklist</h2>✔️Fix the print-specific CYAN, MAGENTA, YELLOW, and KEY (CMYK) color model, to get the right colors on the card.✔️The position of the bank logo/name should be fixed as per the issuing bank’s choice.✔️Make sure that no elements are placed behind the EMV chip area.✔️Use Sans Serif font for card numbers, validity date, and cardholder name.✔️Standard size and alignment must be followed for hologram, magnetic stripe, card network logo, and EMV chip.✔️Stick to the type of design your client prefers, be it abstract, conceptual, or logo-based designs.The overall look of the card should be monitored and optimized keenly, without leaving any gap in the design front. But you can also have some fun and play around with the position and alignment of elements that are not expected to follow fixed norms. But ensure you are in line with the client’s requirements.The purpose of every card differs, that is why designers should bring out the right emotions through the right design.So, what are you waiting for?Go ahead and design customized payment cards for your customers.Need help? Want to know more about designing payment cards across card networks? Or need in-depth network-specific guidelines for design?Write to us at&nbsp;business@m2pfintech.com.<a class="link" href="https://m2pfintech.com/newsletter/">Subscribe</a>&nbsp;to our newsletter and get the latest fintech news, views, and insights, directly to your inbox. 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