Xiring, the security solutions provider for remote transactions,
announced that its remote card authentication solution is the
first of its kind to be CAP 2007 / APACS certified.*
This key milestone in XIRING’s product strategy will enable the company
to start massive deployment in the UK.
Based on MasterCard Chip Authentication Program (CAP), endorsed by Visa
as “Dynamic Passcode Authentication”, APACS has defined the national UK
standard specification available to all UK banks to secure online
banking services and e-commerce. This standard is based on two-factor
authentication solutions used with EMV banking cards. XIRING has
actively participated in these specifications thus supporting the Remote
Card Authentication technology. XIRING’s Remote Card Authentication
solutions are already used by 2 million online banking users in Europe.
The first MasterCard CAP 2007 certification for APACS was delivered to
XIRING for its Xi-Sign 4000, a pocket-size portable, unconnected smart
card reader that allows customers to log-in to their online bank
services securely. This solution helps to ensure that the person
conducting business online or over the telephone is the genuine
cardholder and is authorised to make the transaction.
“By increasing consumer confidence in internet banking and encouraging
more transactions to take place online, banks can significantly reduce
operational costs at individual branches. By leveraging the inherent
security of the customer’s existing EMV chip embedded bank cards, these
readers afford users the highest levels of personal authentication for
accessing banking services remotely”, says Nigel Reavley, Bank Sales
Director at XIRING.
XIRING is currently working with major UK banks on their remote card
“This first certification places XIRING once more as the technology
leader. The UK is the first European country to widely deploy the
international authentication standard defined by VISA and MasterCard.
All European countries currently deploying the new EMV bank card scheme
are expected to follow.” says Georges Liberman, XIRING CEO and Chairman.