SecureKey chosen to authenticate MintChip digital currency consumers

SecureKey has been chosen by the Royal Canadian Mint to provide device-based multi-factor user authentication for its new MintChip cloud-based digital currency.

The Connect Mobile SDK built into the MintChip consumer mobile app, combined with the Connect service, will enable consumers to make cash-like MintChip payments using their smartphones and other mobile devices more conveniently and securely than current contactless payment card transactions.

 “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,” said Marc Brûlé, chief emerging payments officer at the Royal Canadian Mint. “SecureKey’s experience in providing strong, unobtrusive local device authentication was another key factor in our decision. We look forward to working with SecureKey to help ensure the success of the next pilot phase of our MintChip digital currency.”

The Connect Mobile SDK embedded in the mobile app allows the MintChip system to positively identify the mobile device connecting to the consumer cloud account through a unique device ID. Prior to a payment transaction, the software authenticates the user by their 4-digit QuickCode PIN. This QuickCode is like a debit or credit card PIN, but instead of being limited for use with just one card, the QuickCode can be easily extended across the user’s preferred devices for added convenience.

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