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.”
Whitepapers
Related reading
5 ways blockchain can change the cross-border payments landscape
Cross-border payments is a changing sector of the industry, driven by customers demanding little to no friction and encountering multiple steps, intermediaries ... read more
The SME technology revolution | video
The UK is home to 5.4m micro SMEs that have fewer than nine employees, according to the House of Commons library. They ... read more
JP Morgan blockchain network showcases banks’ DLT progress
JP Morgan’s expansion of its blockchain-based interbank payments project signals that major banks are stealing a march on disruptors and startups by ... read more
Security a priority for EU’s INATBA blockchain taskforce
The European Commission’s new blockchain initiative, the International Association for Trusted Blockchain Applications (INATBA), should focus on quashing extant security concerns around ... read more
