MasterCard introduces two new security solutions for online transactions
MasterCard International has introduced two new solutions to help increase security for e-commerce and online banking transactions. Both solutions are based on MasterCard’s OneSmart Chip Authentication program in use in multiple countries.
The first solution—the MasterCard All-in-One Authentication Device—is a slim, self-contained product that carries a chip. A user enters his personal identification number into the device, which then creates a unique, one-time password that must be entered to permit the user to conduct e-commerce transactions at MasterCard SecureCode-enabled merchant sites. The one-time password becomes invalid once the transaction is completed.
XIRING, a leader in smart card security products and solutions, will initially provide the device, although other authentication providers may be added at a later date, MasterCard said.
The second solution—MasterCard Mobile Authentication—allows consumers to use certain mobile phones or PDAs as one-time password generators. MMA customers download an authentication application to their J2ME-compliant mobile phone or PDA. They then enter their PIN into the mobile device, which generates a unique, one-time password that can be used for transactions at MasterCard SecureCode-enabled merchant sites.
The MMA solution is available through Cardinal Commerce, an authentication services provider, and may be available through other licensed vendors in the future, MasterCard said.
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