Payments News

On The Web

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Global

UIDAI asks telecom firms to submit plan to discontinue Aadhaar-based e-KYC

“The Unique Identification Authority of India (UIDAI) has asked telecom companies to submit a detailed plan within the next 15 days on discontinuation of Aadhaar-based authentication service used by them to verify their customer. A circular to this effect has already been issued to the telecom service providers (TSPs) including Bharti Airtel Ltd, Reliance Jio Infocomm […]
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Security

In Boarding New Accounts And Reducing Abandonment, Biometrics May Be Nearing the Mainstream

“On biometric authentication, “The biggest comment we learned from payments customers is it has helped with abandonment,” says Daon’s Bourke. Prospects for the increased use of biometric authentication are positive. Over the next five years, Juniper Research predicts the estimated number of users of the technology will increase from 429 million today to more than 1.5 […]
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Security

The Devil Is in The Details Of Project Verify’s Goal To Eliminate Passwords

“A coalition of the four largest U.S. wireless providers calling itself the Mobile Authentication Taskforce recently announced an initiative named Project Verify. This project would let users log in to apps and websites with their phone instead of a password, or serve as an alternative to multi-factor authentication methods such as SMS or hardware tokens. Any work to find a more secure and […]
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Security

Pointing the Finger at Biometric Card Misconceptions

“Now biometric cards are being added to the payment mix. With these cards, you can use your thumbprint as an alternative to a PIN or signature at the same in-store chip or contactless terminals you use every day. Mastercard developed the biometric card, combining chip technology with fingerprints to conveniently and safely verify cardholder identity […]
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Security

Is Facial-Recognition Technology Hurting Apple Pay?

“Adoption and usage rates for the mobile wallets from Apple Inc., Alphabet Inc. (Google), and Samsung Electronics Co. Ltd. have been far from stellar, but now evidence is emerging that Apple’s decision a year ago to ditch fingerprint identification on its newest smart phones in favor of facial-recognition technology could be making it even harder […]
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Global

Aadhaar authentication through QR codes to resume soon

“This time it will be allowed in offline mode. The authentication process will stand scrutiny, according to UIDAI CEO Ajay Bhushan Pandey. All the regulators are on the same page in respect to this, he added. The process will require a change in existing infrastructure to accommodate with offline mode. However, the private firms would not have […]
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Security

Here’s Why Account Authentication Shouldn’t Use SMS

“The database, which wasn’t protected by a password, contained 26 million text messages, some of which were two-step verification codes and password reset links, TechCrunch reports. When it was found, the database was still recording texts in near real-time, offering a huge resource for potential attackers. The database ran on Amazon’s Elasticsearch and used Kibana, a visualization and querying […]
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Security

Why Passwords Might (Finally) Go Away

“Widespread replacement of password-only authentication needs more than regulations. Without a set of standard protocols, organisations and companies will struggle to find an authentication technology that keeps them in line with security regulations while making their applications available to their users.”

On The Wires

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Security

Tech Industry Leaders Ship FIDO2 Certified Solutions to Reduce Password Use on the Web

“FIDO2 browser support and first certified products are now available to reduce password use on the web, the FIDO Alliance announced today. Now, any website can leverage FIDO2 strong authentication protocols from the W3C and FIDO Alliance to replace passwords with cryptographically secure logins using convenient alternatives like on-device biometrics and FIDO Security Keys. Google Chrome, Microsoft Edge and Mozilla Firefox browsers […]