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    One time password (OTP)

    News about One time password (OTP).

    India Reserve Bank drops two-factor authentication

    December 9th, 2016

    The Reserve Bank of India has removed two-factor authentication — involving the use of one-time passwords sent to mobile phones — for online card transactions up to Rs 2,000 (US$29), Live Mint reports. “Discarding two-factor authentication is an opt-in service, which means that customers will have to specifically opt for it.” The move follows the withdrawal of Rs 500 (US$7) and Rs 1,000 ($14) notes.

    Pakistan bank offers mobile ATM cash withdrawals

    December 7th, 2016

    Customers of Pakistan’s Askari Bank can now withdraw cash from ATMs using their mobile phone. “All customers need to do is log in to their mobile wallet to generate a voucher,” technology provider TPS says. “A unique voucher code (one-time password) is instantly sent to customers via a text message on their registered mobile number. Customers can redeem the voucher at all Askari Bank ATMs across Pakistan.”

    Gemalto to secure mobile payments in Japan with DNP

    July 14th, 2016

    PARTNER NEWS: Digital security giant Gemalto is to supply its Ezio Mobile Suite to financial solutions provider Dai Nippon Printing (DNP) to help the company secure mobile payments, internet banking and related services in Japan. “With Gemalto’s solution, DNP can offer a strong and scalable cloud-based authentication platform, supporting a wide range of authentication and transaction signing methods, including biometric, one time password and out-of-band,” Gemalto says. DNP selected Gemalto to roll out mobile payment solutions to its customers in October 2015.

    McDonald’s rolls out FreeCharge mobile payments to 216 Indian restaurants

    January 20th, 2016

    McDonald’s customers across West & South India can now pay for their orders in-store using their mobile device. The fast food chain has implemented support for mobile wallet provider FreeCharge in 216 restaurants across 26… More

    Ultracash launches sound-based mobile payment service in Bangalore

    October 13th, 2015

    Bangalore-based Ultracash Technology Labs has launched a mobile payment service that lets consumers make payments at close to 500 merchants in the city using a high frequency sound-based technology. Some 24,000 transactions were conducted using… More

    MasterCard to add biometric security to online transactions in 2016

    October 6th, 2015

    MasterCard has unveiled MasterCard Identity Check, a suite of solutions that make use of biometrics and one-time passwords delivered via SMS to secure online mobile transactions. The service will be available to US financial institutions… More

    WHSmith India to accept MobiKwik mobile payments in 55 stores

    July 10th, 2015

    More than 17m users of Indian mobile wallet service MobiKwik will be able to make in-store payments at 55 WHSmith India stationery and book stores, the first time the service has been available for payments… More

    Korea shifts to NFC authentication for mobile banking

    March 2nd, 2015

    Korean financial institutions are to offer streamlined NFC authentication for mobile banking transactions starting from as soon as the first half of 2015, according to local media reports. Bank customers currently use dedicated passcode generator devices… More

    Payments security survey finds NFC and HCE are now top priorities

    December 4th, 2014

    Seven in ten (71%) US IT operations, security, and electronic deployment professionals consider NFC to be essential or very important to their organization’s security, a survey by Ponemon Institute for HP Atalla has found, with… More

    MasterCard and Visa to create new security standard to replace passwords for online payments

    November 13th, 2014

    MasterCard is working with Visa to create a new authentication standard for online payments that will gradually replace the 3D Secure protocol with “invisible authentication”, far fewer prompts for passwords and support for a range… More

    CBD launches bank branch in Facebook

    October 27th, 2014

    Commercial Bank of Dubai (CBD) has launched a virtual bank branch for Facebook, letting its online banking customers check balances, pay credit card bills, transfer money between accounts and track expenses from within the social network. Customers need to link their online banking profile to their Facebook account and verify the setup using a one-time password sent to their mobile device to use the service.

    Kotak launches P2P payments for Facebook

    October 21st, 2014

    Kotak Mahindra Bank has launched a bank-agnostic payment service for Facebook that will enable 250 million Indian bank account holders to transfer money by choosing a recipient’s name from their friends list. “KayPay offers a safe and secure platform to transact on the social networking site through a two-level authentication — Facebook user ID and password, and a one-time password,” the bank explains. “Further, both sender and receiver immediately receive notifications via SMS and on Facebook about the transfer.”

    Edgetech to offer acoustic mobile payments in Zimbabwe

    June 5th, 2014

    Zimbabwe-based banking solutions provider Edgetech Solutions is preparing to launch a new mobile payment service that uses sound-based communication technology from NearBytes to let people make payments in stores with their phones. When launched, the Edgepay solution… More

    IBM launches two-factor authentication for NFC devices

    October 21st, 2013

    Computer giant IBM has added a two factor authentication solution to its IBM Worklight mobile app platform, providing “an extra layer of security when using an NFC-enabled device and a contactless smart card to conduct… More

    Google and NXP join Fido Alliance to develop secure authentication standards

    May 2nd, 2013

    Momentum is building for Fido, an open security authentication concept that aims to allow users to replace passwords with a range of authentication methods, including NFC and biometrics. Both Google and NXP have now signed up to the project, alongside founder members that include PayPal and Lenovo. More

    Call for contributions: New report on mobile payments and the future of merchant transaction fees

    November 26th, 2012

    The NFC World team has identified ten pressure points that suggest the arrival of mobile payments will result in a fundamental change in the overall cost of processing payments and the way in which merchants transaction fees are calculated — and we’d like to hear from anyone who is working on ways to use mobile technology to cut the cost of processing transactions at the point of sale. More

    NFC phones and tablets with fingerprint security protection “expected later this year”

    May 14th, 2012

    A new fingerprint sensor from Authentec is now being designed into a number of new devices so that NFC phone users can add an extra layer of protection to their mobile wallets, the company says. More

    Yubico introduces one-time password token that secures access to the contents of NFC phones

    February 22nd, 2012

    The online identity protection specialist, which has more than one million users in 100 countries, has developed a new version of its YubiKey device that can be used to lock and unlock access to applications and data stored on NFC phones. More