26 September 2016
Visit colt.net

Royal Canadian Mint chooses SecureKey authentication tech for digital currency

20 February 2014  |  3853 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  |  6841 views  |  5 comments | 11 tweets | 19 linkedin

Related blogs

Create a blog about this story (membership required)
Visit equens.comFind out moreVisit www.smartstream-stp.com

Who is commenting?

Top topics

Most viewed Most shared
RBS tests demonstrate ability of Ethereum to support a national domestic payments systemRBS tests demonstrate ability of Ethereum...
13184 views comments | 50 tweets | 46 linkedin
Banks test blockchain for reference data managementBanks test blockchain for reference data m...
8526 views comments | 16 tweets | 27 linkedin
Swift beware: Ripple signs banks to global payments steering groupSwift beware: Ripple signs banks to global...
8097 views comments | 32 tweets | 16 linkedin
Time has come to extract value from blockchain investment – new Finextra paperTime has come to extract value from blockc...
6882 views comments | 22 tweets | 16 linkedin
FCA to kickstart sandbox with 24 applicantsFCA to kickstart sandbox with 24 applicant...
6861 views comments | 33 tweets | 15 linkedin

Featured job

Find your next job