Cyber Security

Visa joins FIDO Alliance for online authentication standards

FIDO AllianceThe Fast Identity Online (FIDO) Alliance, an organization that promotes online authentication standards, announced on Tuesday that Visa has joined the alliance and will join the group’s board of directors.

“Strong authentication is vitally important as the future of payments becomes increasingly mobile and digital,” Mark Nelsen, the head of risk products and business intelligence at Visa, said. ”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.”

Visa joins other board-level members of the alliance, including ARM, Bank of America, Blackberry, CrucialTec, Discover, Google, IdentityX, Lenovo, MasterCard, Microsoft, Nok Nok Labs, NXP, Oberthur Technologies, PayPal, RSA, Samsung, Synaptics and Yubico.

FIDO Alliance members commit to collaborative development and technology exchange towards universal authentication standards. The alliance’s specifications support a range of technologies, including biometrics and existing communications standards such as NFC and smartcards.

“With the addition of Visa to the FIDO Alliance board, our leadership includes the world’s leading payments networks and services providers,” FIDO President Michael Barrett said. “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. We welcome Visa to the FIDO Alliance board and to the forefront of stronger and easier-to-use authentication.”

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