The FIDO Alliance has announced that Visa has been appointed to the Board of Directors.
Visa Europe will join the alliance as a sponsor member and will be represented on the board by Visa.
“Strong authentication is vitally important as the future of payments becomes increasingly mobile and digital,” said Mark Nelsen, head of risk products and business intelligence, Visa Inc. “As payment technologies continue to advance, an open, scalable and interoperable framework will support a move away from simple, static password-based authentication and towards more advanced methods that will improve security as well as enable more frictionless, convenient commerce.”
“With the addition of Visa to the FIDO Alliance board, our leadership includes the world’s leading payments networks and services providers. Though FIDO specifications are not currently designed to address all aspects of secure payments, it’s clear that payments technologies and services are fundamental to the development of better authentication that is capable of overcoming the risks and limitations associated with password dependencies that date back a half century,” said FIDO Alliance president Michael Barrett. “We welcome Visa to the FIDO Alliance board and to the forefront of stronger and easier-to-use authentication.”
It seems laptops are about to catch the biometric fever as PayPal, Intel, Lenovo and Synaptics are collaborating to introduce FIDO-enabled embedded fingerprint solution to PCs.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.
Lloyds has launched biometric finger print authentication for mobile banking.
Barclaycard has partnered with Case Station, a company that makes personalised phone cases, to embed contactless technology in the latter's smartphone cases.