AUSTRIACARD global first to certify Mastercard product with FIDO Authentication

By  Igor Pejic, AUSTRIACARD

Using your banking card to secure your Gmail or Facebook account is no futuristic idea any more. AUSTRIACARD became the first company globally to offer fully-fledged, multi-application smart cards, supporting the newest MasterCard MChip Advance and FIDO U2F on ONE dual interface token.

FIDO is a new authentication standard that uses a second factor to authenticate the user and to counter password theft. AUSTRIACARD already was the first company with a FIDO U2F certified NFC-smart card on the market, but with the recent MasterCard approval it can now offer the FIDO-functionality onto the card’s chip together with a payment application. So from now on, banks can choose to equip their cards with this additional capability and offer a real added value to their customers.

FIDO helps them secure access to webmail-, social media-, or even banking-apps in the most convenient way. All the user has to do is tap his card on any NFC reader (e.g. NFC enabled smart phone) when logging in. With a FIDO-secured account, not even the most severe password breach will expose private data.

Bernd Eder, Head of R&D at AUSTRIACARD, explains: “We are pioneers in the NFC-based FIDO-authentication. For us it was always clear that in the face of exploding mobile phone usage, USB-only authentication cannot be the answer. And what device is better suited as a contactless FIDO-token, then the omnipresent payment card. But the user is not the only beneficiary. The visibility of the bank’s logo will increase exponentially. Just think about how often you type in passwords on your phone or tablet. Imagine seeing your bank’s logo that often. Every day.”

But it doesn’t have to be the classic PVC-card. AUSTRIACARD’s FIDO® certified products include not only contactless and dual interface-cards, but also NFC-based key fobs, stickers, and bracelets. The banks’ end-customers can pay and authenticate themselves however they prefer.

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Categories: FIDO

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