Deutsche Kreditbank (DKB) is enabling cardholders to use biometrics and their banking app to verify their identity in real time when making online purchases with their credit card.
By integrating the systems, the German bank is making the process more user friendly. It hopes this will lead to a greater use of credit cards for online purchases in Germany as well as an increase in mobile payments.
Cardholders initially link their DKB credit card to the banking app by entering a one-time transaction authentication number (TAN). Once the card is registered, there is no need to use a TAN or one-time password when buying something online, technology provider Netcetera explained to NFC World.
Most transactions will not be challenged. However, if an online purchase requires authentication, this can take place in real time. The cardholder will receive a push notification on their mobile phone which when clicked takes them to the banking app. They log in with Touch ID and are shown details of the purchase being questioned. This is approved or denied by the cardholder by touching the corresponding button within the app.
With more than four million cards, DKB is one of the first major banks to offer a solution that allows cardholders to register directly for a security procedure in real time, says the bank.