• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

FIDO Highlights PSD2, eIDAS, and Digital Wallets in Recap of Virtual Authenticate Event

June 28, 2021

The FIDO Alliance has published a recap of its most recent Authenticate Virtual Summit. The event took place on June 17, with a Focus on Europe theme that explored some of the different use cases for passwordless technologies across the continent.

FIDO Highlights PSD2, eIDAS, and Digital Wallets in Recap of Virtual Authenticate Event

In that regard, the Summit placed a particular emphasis on Europe’s new PSD2 regulations, which went into effect in 2021. PSD2 has a Strong Customer Authentication requirement that forces merchants to authenticate customers during the payment process. The rule has improved security, but it has also added friction, since merchants essentially have to complete an authentication process twice in order to complete a transaction.

With that in mind, Nok Nok Products VP Rolf Lindemann and Mastercard Product Development VP Jonathan Grossar both argued that FIDO authentication can help remove some of that friction and streamline the e-payments process. They are hoping that delegated authentication practices will reduce high rates of online cart abandonment, which increased in the wake of PSD2 despite the overall increase in e-commerce during the COVID-pandemic.

Other sessions addressed Europe’s eIDAS standard and the European Commission’s growing interest in a Digital Wallet. The eIDAS scheme is intended to promote interoperability, so that identity solutions in one part of Europe will still be valid in other parts of the EU. The Digital Wallet could help fulfill that promise, since it would allow people to link their identity to a trusted digital credential that could be used for a wide range of applications.

“Digital identity is not a means in and of itself, it’s a means to an end,” said Consult Hyperion COO Steve Pannifer. “The end that it is serving is all of those services that I’m trying to get access to.”

Pannifer went on to suggest that identification, authentication, and authorization are the three pillars of a strong digital identity. The first indicates that a person is real, while authentication gives people a way to verify that identity and authorization allows people to use it to gain access to more tangible goods and services in the real world.

The FIDO protocols can help deliver on all three fronts. The Alliance has created a new ID Verification and Binding Working Group (IDWG), and has indicated that the adoption of FIDO technologies can help enable secure and convenient identity checks both online and in person.

“We’re seeing more and more companies adopt FIDO authentication,” said FIDO CMO and Executive Director Andrew Shikiar. “I firmly believe that virtually every consumer service online will be offering passwordless login options in the next few years and our hope is that the vast majority of these leverage FIDO.”

The FIDO Authenticate series will return with another virtual event in September, while the first in-person Authenticate conference will take place in October. Last year’s inaugural event took place virtually due to health concerns associated with COVID-19.

Filed Under: Industry News Tagged With: Authenticate Virtual Summit, authentication, Europe, European Union, FIDO, FIDO Alliance, industry events, passwordless authentication, PSD2, strong online authentication, virtual events

Related News & Articles

Grand View Forecasts $31.82 Billion Speech and Voice Recognition Market

Face ID to Return in iPhone 12: Leaker

Fingerprint Cards Ticks Off Latest Mobile Integrations

Primary Sidebar

Learn About Mobile ID and Aviation

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • ‘Router Failure’ Shuts Down Korean Mobile ID for Hours
  • India Launches ‘Social Impact Fund’ for Digital Public Infrastructure
  • Swiss, Indonesian Governments Take Contrasting Approaches to Digital ID
  • Deepfake-Focused Kantara Board Member Joins FaceTec
  • IDEMIA Teams With TEAL On IoT eSIM Tech

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld