20 February 2017
Visit EBAday.com

Royal Canadian Mint chooses SecureKey authentication tech for digital currency

20 February 2014  |  4088 views  |  0 Fingers on smartphone keypad

The Royal Canadian Mint has selected SecureKey device-based multi-factor user authentication technology for its new MintChip cloud-based digital currency.

The Mint unveiled plans for MintChip in 2012, promising to bring the benefits of cash into the digital age, providing users with instant, private, secure, and fee-free access to their money.

The system will let Canadians use a 'chip' to load value onto a device such as a smartphone, PC, tablet, or store it in the cloud, and then buy physical goods in the real world or digital content online.

SecureKey's briidge.net Connect Mobile SDK will be embedded in the MintChip app, allowing the currency's system to positively identify the device connecting to the consumer cloud account through a unique ID.

Prior to a payment, the software will authenticate the user by their four-digit QuickCode PIN. This code is like a PIN, but instead of being limited for use with just one card, it can be extended across the user's devices - phone, tablet, PC, smartwatch.

Marc Brûlé, chief emerging payments officer, Royal Canadian Mint, says: "SecureKey offered us a robust multi-platform solution that delivers a very high level of device security while providing MintChip consumers with a convenient, familiar payment experience."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Royal Canadian Mint demos digital currency

Royal Canadian Mint demos digital currency

13 January 2014  |  7100 views  |  5 comments | 11 tweets | 19 linkedin

Related blogs

Create a blog about this story (membership required)
visit dh.comVisit capgemini.com

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
15372 views 11 comments | 50 tweets | 84 linkedin
Nesta launches £5 million Open API challengeNesta launches £5 million Open API ch...
10155 views comments | 21 tweets | 18 linkedin
Jaguar embeds payments into digital dashboardJaguar embeds payments into digital dashbo...
9717 views comments | 49 tweets | 56 linkedin
The fintech effect: Banks buy in to benefits of boosting financial well-beingThe fintech effect: Banks buy in to benefi...
9000 views comments | 16 tweets | 11 linkedin
Kevin the bot uses blockchain to offer insurance for P2P transactionsKevin the bot uses blockchain to offer ins...
7836 views comments | 16 tweets | 12 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job