/security

News and resources on cyber and physical threats to banks and fintechs worldwide.
G+D taps EMV cards for SCA

G+D taps EMV cards for SCA

Giesecke+Devrient has developed a system that lets customers use EMV payment cards and their mobile phones for the upcoming Strong Customer Authentication (SCA) rules.

Under SCA, shoppers will be required to go through a two-step verification process for all online purchases over EUR30.

G+D Mobile Security says that its Convergo tap solution is an answer for SCA, with shoppers tapping their card against their Android handset for one step of the verification process.

Convergo has other use cases, says G+D, for example activating newly issued bank cards - the bank’s app on the device reads the token stored on the EMV chip and the card is ready for use.

Jukka Yliuntinen, head, digital solutions, G+D Mobile Security, says: "Our unique solution combines ease of use, a high level of security, and great cost-efficiency in an unprecedented manner."

Comments: (1)

A Finextra member
A Finextra member 18 June, 2020, 09:22Be the first to give this comment the thumbs up 0 likes

What happens if you don't have a smartphone or wish to activate NFC?

Implementation of SCA in Europe is going to be a real mess with €Bn's of sales lost. Can't think of a worse deadline (31/12) to implement and the Commission and SCA continue to ignore the warnings of the industry. 

Trending Stories