The new service, known as the ActivCard 4Tress Authentication Server, will be deployed at MasterCard’s member banks to authenticate users and transactions in non face-to-face environments, such as e-commerce, online and phone banking and m-commerce.
To use the server, consumers insert a standard debit or credit card into a hand-held Chip Authentication Program (CAP) compliant reader, such as the ActivReader Solo, and enter the PIN to generate a one-time-password. This is then submitted to the bank through a web site or over the phone, where it is validated by the authentication server.
Given the recent rise of phishing attacks and identity theft, banks are looking for a secure way to validate that customers are who they say they are, said Ben Barnes, CEO at ActivCard. ActivCard 4Tress Authentication Server allows banks to positively identify customers – however they choose to access services – while keeping management costs low.
CAP enables members to leverage their existing investment to address the issue of payment security and convenience across different virtual payment channels.
