SecureKey brings hardware-based security to MasterPass

Source: SecureKey

SecureKey Technologies Inc., a global leader in identity and authentication ecosystems, today announced that its™ DNA security software and Enterprise authentication service have been integrated with MasterPass™, the new digital commerce platform from MasterCard®.

SecureKey DNA combined with Intel® Identity Protection Technology (Intel® IPT), provides MasterPass wallet holders and merchants with an additional level of hardware-based security to help reduce fraud risk and to help ensure safer, more convenient online payment transactions.

"MasterPass is designed to enable consumers to shop more confidently and safely and has been made even better with the help of SecureKey authentication services and technology using Intel IPT," said Edward Olebe, group head of MasterPass, at MasterCard. "We are delighted that consumers using the MasterPass service can now benefit from the enhanced security and convenience they receive on Intel IPT-enabled devices, such as Ultrabooks™."

Intel IPT helps provide a simple, tamper-resistant method for protecting consumer and business data from threats and fraud. As a feature in all Intel-inspired Ultrabook devices and PCs with the latest Intel Core™ processors, Intel IPT is a key component in enabling hardware-based two-factor authentication solutions for online websites and business log-ins. The combination of DNA and Intel IPT is a result of a collaboration SecureKey established with Intel to enable strong authentication solutions for various vertical market applications.

"Intel is excited to be working with MasterCard and SecureKey to bring a new level of hardware-based authentication capabilities based on Intel IPT to MasterPass-connected wallets," said George Thangadurai, general manager of the PC Client Services Division at Intel Corporation. "MasterPass is a perfect example of how Intel IPT working with DNA can provide a hardware root of trust that can be utilized by multi-factor authentication solutions for identity protection and transaction verification."

Consumers can link any Intel IPT-enabled device to MasterPass-connected wallets and attain hardware-based security benefits because DNA technology is integrated in all Intel IPT-enabled devices.

For select Intel IPT-enabled devices that have near field communication (NFC) capabilities, the SecureKey solution lets the consumer pay for online transactions by simply tapping a MasterCard contactless payment card on their computer. The SecureKey solution reads the contactless bank card and performs the card authentication using the existing issuer payment network over an encrypted channel. This implementation provides equivalent security to a card-present transaction, which over time may significantly reduce the fraud risk for card issuers and lower transaction costs for merchants. The NFC capabilities also eliminate the need for the consumer to manually enter payment and shipping information by allowing consumers to load new cards into MasterPass-connected wallets quickly and easily with a simple tap.

"Working closely with MasterCard and Intel, we have succeeded in creating a hardware-based authentication solution for MasterPass that is convenient, intuitive and simple to use for the consumer," said Charles Walton, CEO of SecureKey. "With tap-to-pay and tap-to-load convenience, the online shopping experience is now designed to be safer and more compelling."

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