ActivCard Corp. (Nasdaq: ACTI), a global provider of authentication and digital identity solutions, today announced it will support MasterCard International's Chip Authentication Program to offer its customers chip-based cardholder authentication solutions for non face-to-face transactions.
As part of its global MasterCard SecureCode(TM) initiative, MasterCard created the Chip Authentication Program (CAP), which is designed to build on the ease of use and security of an EMV-compliant smart card for authentication through a user's PC. With CAP, a cardholder inserts his or her smart card into a card reader and enters his or her PIN. The card's chip then generates a value that the cardholder places into the issuer authentication window that appears during completion of online purchase. This solution is supported by both standalone and connected smart card readers.
ActivCard smart card software and hardware products leverage the full capability of chip technology for validating a cardholder's identity -- with the ideal combination of convenience for the cardholder, reliability for banks, and liability protection for merchants. While enhancing the security of MasterCard(R) payment transactions, ActivCard products make it possible for financial institutions to offer their customers enhanced online services, via the Internet.
"Securing payments from theft, fraud, and misuse represents a difficult challenge faced by financial institutions today," said Mehdi Bermy, ActivCard Solution Marketing Manager. "ActivCard solutions leverage the familiar ATM experience of entering a PIN to receive access to banking services, while ensuring the complexity of trusted transactions are transparent and simple for the cardholder."
"Smart cards, along with ActivCard solutions for secure Internet banking and card authentication, can help prevent identity theft, while at the same time, maximize a bank's return on investment on its EMV roll-outs," continued Bermy. "ActivCard has built a solid reputation of securing B2B and B2C Internet banking and mobile commerce transactions. The strength of our solutions is illustrated by ActivCard's impressive financial institution customer base and the ease-of-use experienced by the more than 6.5 million users of ActivCard digital identity solutions around the globe."
"All parties involved in an online transaction benefit from the ability to identify the cardholder. However, for an authentication solution to be truly effective, it needs to offer a high-level of security, be cost-effective, and work consistently across multiple channels," said Pascal Dufour, Vice President, Chip Product Management, MasterCard International. "MasterCard's Chip Authentication Program addresses each of these challenges head on."