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MasterCard reveals biometric plans for password-killing protocol

November 13, 2014 1 comment

planetbiometrics.com

mastercard Biometric

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MasterCard has outlined plans for a new authentication standard designed to end the use of passwords in online payments, saying that the protocol could be released as early as next year.

The firm says the new standard, which is being developed in cooperation with Visa, will move security infrastructure beyond the PC era, “supporting emerging technologies and changing consumer needs”.

The new protocol could be adopted in 2015 and will gradually replace the current 3D Secure protocol. “[R]icher cardholder data … will result in far fewer password interruptions at the point of sale”, said MasterCard.

In the event that an authentication challenge is needed, cardholders will be able to identify themselves with the likes of one-time passwords, or fingerprint biometrics, rather than committing static passwords to memory.

“All of us want a payment experience that is safe as well as simple, not one or the other. We want to Read more…

Pilot program explores a ‘cashless society’

January 24, 2013 Comments off

rapidcityjournal.com

This is not good news as there are a lot more cons than pros in this debate

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Aaron Rosenblatt, Rapid City Journal

Bernie Keeler, a mechanical engineering student at South Dakota School of Mines & Technology, demonstrates how to buy an item using biometric payment Tuesday at the Miner’s Shack snack bar. Nexus USA is piloting the Smart Pay system on the Mines campus.

School of Mines students and all of Rapid City could soon be at the cutting edge of a technology that developers say will eliminate the need for cash, IDs and maybe even car keys.

“We’re hoping that this is the future,” Al Maas, president of Nexus USA, said Tuesday at a news conference at Mines. “The applications for this are beyond your imagination.”

On Tuesday, mechanical engineering student Bernie Keeler showed just how easily the system works. After grabbing a Gatorade and a sandwich at the Miner’s Shack, he paid by swiping his index finger through Read more…

Is a cashless society inevitable?

April 17, 2012 Comments off

cbc.ca

 An RCMP officer holds Canada’s new $100 banknote, which is made from plastic polymer and is designed to last longer and thwart counterfeiters. (Fabiola Carletti/CBC) Sweden and several other countries are experimenting with cash-free transactions, a trend that is fuelling debate about the need for tangible currency.

Readers were quick to offer their two cents onFriday’s editorial about the idea, “The International movement for the end of cash” by CBC’s Brent Bambury.

The majority of commenters were resistant to the idea of a cashless society, citing everything from decreased privacy and higher-tech crime to corporate control and technological vulnerabilities.

  • “Without strict laws, too, a cashless society will be one in which you have no fiscal privacy. Far from being more secure, intangible assets that Read more…

Surviving the cashless cataclysm

March 22, 2012 Comments off

extremetech.com

Square: The epitome of the cashless economy

InSweden, just 3% of the economy is powered by coins and paper money. Public buses don’t accept cash, churches have installed card readers to take donations, and there are even some bank branches that refuse to take your money, opting instead to deal with electronic transfers only.

The European average is 9%, and in theUS, the credit card motherland, the percentage is still more than twice that ofSweden: 7%. If you stop and think about it, though, none of these figures are particularly surprising. With the rise of credit cards and Read more…

Salt Lake City goes wallet-free with Isis

April 11, 2011 Comments off

theregister

Trial run for national rollout

Operator consortium Isis has selected Salt Lake City as its flagship deployment to show the rest of the USA what NFC can do for them.

The plan will see Salt Lake City’s public transport system accepting pay-by-wave from a mobile phone by the middle of next year. Retailers have also been encouraged to adopt Near Field Communications technology at the point of sale, as Salt Lake City strives to become The Place You Can Leave Your Wallet At Home.

Isis was set up less than six months ago: a consortium of US network operators including AT&T, T-Mobile and Verizon. The consortium is dedicated to ensuring that electronic payments based on NFC keep their secure element in the SIM – under the control of the network operator, not the handset manufacturer or bank-card supplier – by promoting the technology and business models associated with it.

In Salt Lake City, that involves working with the Utah Transit Authority to convert all the buses and trains to accept NFC payments, as well as flooding the area with NFC handsets and SIM chips.

“I would like to express our excitement that the Salt Lake City area has been chosen to lead the roll-out of Isis mobile payments,” said Mayor Ralph Becker’s canned statement, though looking a little closer it becomes obvious why Salt Lake was chosen to lead the US into contactless payments.

The Utah Transit Authority already uses proximity payment cards, deployed in 2009, so adding NFC functionality to public transport is a matter of software not hardware, and while the City might be the capital of Utah it has a population somewhat smaller than Northampton, so presents a nicely sized area for experimentation rather than a sprawling metropolis where deployment would be more challenging.

But the transition to electronic payments isn’t going to happen overnight, and it’s good to see Isis doing something practical, and with a reasonably aggressive timetable. It will be interesting to see how the locals take to paying by wave.