Payment solution provider Entersekt gains 3-D Secure technology provider Modirum to boost worldwide growth
In a move aimed at enhancing its digital payment security offering, financial authentication company Entersekt has announced the acquisition of Modirum's 3-D Secure software business. Based in South Africa, Entersekt is known for its Context AwareTM Authentication platform, which protects digital payment transactions against a wide range of fraud threats. With this acquisition, Entersekt will secure over 2.5 billion transactions per year. Modirum, a digital payment security provider with a 25-year history, brings to the table its cloud-based 3-D Secure technologies and services. These operate globally in numerous payment systems, issuers, and merchants, making them a valuable addition to Entersekt's Secure Platform for transaction authentication. The acquisition expands Entersekt's customer base and gives it a global footprint. Notably, major financial institutions such as Barclays, UBS, and MasterCard have utilised Modirum's 3D security software for authenticating digital payment transactions. The Modirum 3DS team will join Entersekt after the acquisition, further strengthening its expertise in this area. Schalk Nolte, Entersekt's CEO, stated that the combined capabilities will offer a wider set of solutions and provide more data sources for fraud prevention. The combined offering becomes the most advanced solution available for financial institutions on the market today. With this acquisition, Entersekt is poised to lead the way in securing digital payment transactions, offering unparalleled protection against fraud and ensuring a safer digital payments landscape for all.
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