Authentication

Driven by big breaches like the Equifax incident, all stakeholders in card payments will have to demonstrate multifactor authentication, writes Michael Magrath, director of global regulations and standards at VASCO.

The problem is that, like usernames and passwords, biometrics are a static form of identity that can be exploited rather than a dynamic method that's of little use to crooks if stolen.

Extending this functionality into corporate cards has the potential to make the commercial payments process more seamless and secure, writes Russell Bennett, chief technology officer at Fraedom.

While building consumer trust in these new payments methods will undoubtedly take time, the possibility of freeing consumers from physical payment objects — cash, cards, phones — would be transformative, writes Beatta McInerney, business development manager for payments at ScanSource.

Retailers and payment service providers will need to report on at least a quarterly basis on performance against the reference fraud rates, writes Matthew Attwell, Risk & Client Services director at The ai Corporation.

A better camera should mean more accurate facial recognition. Will it spur more banks to embrace the technology?

Payfone, which provides technology to confirm customer identities, has secured $23 million in a funding round led in part by Synchrony Financial.

To bypass the customer in setting up millions of phony card accounts, Wells Fargo employees took advantage of the bank’s continuing reliance on single factor authentication, writes Patrick Cox, CEO of TRUSTID.

Rather than searching for a "silver bullet" and relying on a single line of defense, FIs and merchants should adopt a layered model combining different approaches and technologies, writes Elina Mattila, executive director at Mobey Forum.

This dangerous "wild west" scenario of fraud and breaches is pushing improving or revamping online authentication to the top of this year’s to-do list for both online companies and governments, writes Robert Capps, vice president of business development for NuData Security.

With less than three months before the PCI DSS Requirement 8.3 takes effect, all involved in the handling of cardholder data must take definitive steps to review, implement and upgrade their multifactor authentication strategies and implementation to assure compliance, writes Dirk Denayer, business solutions manager at VASCO Data Security.

We entrust tech firms with vast amounts of information about our daily lives, with an expectation that they will safeguard it. But have we become too casual in the trust we place with them in exchange for more personalized experience and convenience?

We entrust tech firms with vast amounts of information about our daily lives, with an expectation that they will safeguard it. But have we become too casual in the trust we place with them in exchange for more personalized experience and convenience?

The heads of some of the largest U.S. banks are calling for a new security-focused mindset among executives, better forms of ID and collective action in the aftermath of the Equifax breach.

Palm scanners for employee log-ins has not only increased data security, but it's also cut down the time employees were spending on authentication procedures.

Amid a series of breaches, banks and payment services companies would be far better served by building solutions and programs that work toward instilling consumer confidence, instead of creating situations that continually erode trust, writes Madeline Aufseeser, CEO of Tender Armor.

There is a greater likelihood of an individual clicking on a piece of malware via a mobile device than a laptop, and this, in turn, provides issues for the amount of single sign on applications, writes Ryan Wilk, vice president of customer success at NuData Security.

Until recently, many of the fraud prevention tactics employed by organizations have added to, not reduced, customer friction across the buying cycle, writes Michael Lynch, chief strategy officer at InAuth.

HSBC has been implementing biometric techniques for customer authentication, including voice recognition and Touch ID.

With more vendors issuing EMV cards, cybercriminals are turning to cart-not-present fraud as a way to defraud consumers. A mix of weapons is necessary to counter it, writes Robert Capps, authentication strategist and vice president at NuData Security.