PINs are past their prime. Signatures? Forget it. With criminals increasingly on the prowl, much more robust technology is needed. The good news is such tech is available. But will consumers tolerate it? Despite a now almost 3-year-old decision by the four major U.S. card brands to make signatures optional …
Read More »Search Results for: authentication
Mastercard’s Authentication Tests; BofA Enhances Erica; Possible Widening of Desjardins Breach
Eye on Mobile Payments; FBI Warns of Authentication Threats; CardFlight Adds Device Support
The FBI Warns of Attacks on Multifactor Authentication Defenses
The Federal Bureau of Investigation recently notified cybersecurity companies about attacks that could defeat multifactor authentication systems protecting sensitive online personal and financial data, systems usually considered much stronger than two-factor authentication combinations such as user names and passwords. The FBI last month quietly sent a so-called private-industry notification (PIN)—a …
Read More »How Apple Card Pushes Digital Authentication—And Apple Pay
Apple Inc.’s new Apple Card is another push from the computing giant to move payments into a digital realm under Apple’s control, according to analysts. Apple last month announced the card, which bears a Mastercard Inc. brand and will be issued by Goldman Sachs Group Inc. The product, which eschews …
Read More »Banned from Payment Processing; Stripe’s Authentication Move; Payfone Raises $24 Million
To Get Ready for PSD2, Stripe Buys a Developer of Strong-Authentication Tools
In advance of a key European regulation taking effect late this summer, San Francisco-based payments provider Stripe Inc. has acquired Touchtech Payments, a developer of authentication software. Terms of the deal, announced Wednesday, were not disclosed. Founded in 2014, Dublin-based Touchtech specializes in code that establishes customer identities for financial …
Read More »How Apple Card Heralds a Push for Greater Digital Authentication—And for Apple Pay
Apple Inc.’s forthcoming Apple Card is another push from the computing giant to move payments into a digital realm under Apple’s control, according to analysts. Apple last week announced the card, which bears a Mastercard Inc. brand and will be issued by Goldman Sachs Group Inc. The product, which eschews …
Read More »Eye on Acquiring; Building a Case for Biometric Authentication; Plus Weekly Recap
Use Layered Authentication to Secure Real-Time Payments
Real-time processing heightens risk for providers that aren’t prepared. Here’s what financial institutions should be doing now, says Eric Woodward. Instant downloads. Instant delivery. We live in an age of instant gratification. The banking industry is no exception. An overnight batch process is a lifetime, and three-day settlement feels like …
Read More »