If you've ever bought anything online with a Visa or MasterCard debit or credit card, you'll probably be familiar with the authentication systems that these companies use for processing payments. After making a purchase, retailers redirect customers to a page with a Verified by Visa or MasterCard SecureCode form, into which they are required to enter characters from their password to verify their purchase.
But these two systems - both of which are based on the 3D Secure protocol - are to be killed off, and replaced with a new unified standard for authenticating online transactions.
The new SafetyNet system will move away from static passwords, focusing instead on two-factor authentication, biometrics and 'disposable' single-use passwords. As The Telegraph reports, MasterCard is also performing trials of face- and voice-recognition as a means of authenticating payments, and is even testing a wristband that can identify a cardholder through their unique cardiac rhythm.
Ajay Bhalla, President of MasterCard Enterprise Security Solutions, said: "We want to identify people for who they are, not what they remember. We have too many passwords to remember and this creates extra problems for consumers and businesses."
SafetyNet will begin to be implemented from next year, gradually replacing the older Verified by Visa and MasterCard SecureCard systems.
Source: The Telegraph | Online shopping with credit cards image via Shutterstock