Nov. 6, 2012
Strong authentication technology provider Natural Security and payment company Discover Financial Services have struck a deal to pilot test a Natural Security authentication solution.
According to a report by Park Security, Discover will integrate Natural Security's universal, hands-free biometric strong authentication solution, enabling customers to execute fast, convenient and highly secure payment transactions via a wireless customer device and a biometric reader.
"With our technology, a user can be quickly and reliably authenticated, whatever their needs, for example making purchases in-store, online shopping or home banking, withdrawing money on an ATM and access to premises or a PC," said Cedric Hozanne, CEO of Natural Security. "This is the logical progression for conducting transactions in everyday life and is one that Discover Financial Services has realized the potential of in partnering with Natural Security."
"I believe that leaving your card in your pocket, simply touching a reader, and having the peace-of-mind that your payment is secured by your fingerprint is a right step in delivering [a] desired payment experience," said Troy Bernard, global head of emerging payments at Discover. "Equally important, there is minimal impact to the existing payments infrastructure as the transaction can be magnetic stripe or EMV-formatted."
The solution guarantees that the secure personal device and its owner are in the same place at the same time, the companies said. The device securely transmits information to complete transactions and is under the user's control at all times.
The authentication is both simple and secure: The user simply places a finger on a reader to complete a transaction. The natural security standard also protects a user's biometric data as it does not require a centralized database.
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