MasterCard and Visa have announced plans to replace their online security systems with a more user-friendly solution.
According to the Guardian, MasterCard SecureCode and Verified by Visa will be replaced with a new system which reduces the reliance on passwords.
Eventually, cardholders will be able to identify themselves with one-time passwords or fingerprint biometrics, or even a wristband which authenticates a cardholder through their unique cardiac rhythm.
A spokesperson for the PCI security standards council told IT Security Guru: “Moving to biometrics and other realtime dynamic authentication methods will strengthen authentication of the cardholder in the card not present environment, which means better protection for consumers. From a PCI perspective, our focus is on securing the card data – and PCI DSS offers the best protections.”
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