ebpSource, Encap Security to bring Smarter Authentication to online, mobile transactions

Tuesday 25 March 2014 10:40 CET | News

ebpSource, a global electronic bill presentment and payment solution provider, has teamed up with Encap Security, a provider of mobile authentication, to market its Smarter Authentication solutions globally.

Under the terms of the alliance, ebpSource will offer Encap’s products to new and existing clients in the banking, telecoms, payment processor and service bureau sectors. Users can download the Encap-enabled app from an app store such as the Apple Store or Google Play. Once a user’s device is paired, the user will be asked to identify themselves using a PIN. The device becomes “something you have” and the PIN is “something you know” allowing multi-factor authentication to be delivered with a one-factor user experience. For non-smart mobile devices there is also an SMS alternative. Through the partnership with ebpSource, the Encap-enabled app will be integrated server-side to enterprise systems, online services, identity management, transaction databases and payment processes.

Smarter Authentication is a new approach to online and mobile banking and payment authentication that uses software-based, banking-grade technology to deliver an exceptional customer experience without compromising security. Smarter Authentication removes the need for key fobs, tokens and other authentication devices, OTPs (one time passwords), proprietary SIM-cards, OTP via SMS messages and online card authorisation requests.

ebpSource delivers software solutions, consultancy and support to tier 1 telecoms, financial services and payment processor clients. Encap Security provides multi-factor authentication and digital signing solutions.

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Keywords: ebpSource, Encap Security, Smarter Authentication, online authentication, online transactions, mobile transactions
Categories: Fraud & Financial Crime
Countries: World
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Fraud & Financial Crime

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