• 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

LoginID Gets Investment Backing From Visa

June 4, 2021

Visa is backing LoginID’s efforts to improve security in the payments industry. To that end, Visa has made a financial commitment to LoginID, agreeing to invest an undisclosed amount of money in the company.

LoginID Gets Investment Backing From Visa

The Visa funds will supplement the $6 million that LoginID generated in a round of seed funding that closed in March. Visa cited LoginID’s biometric authentication technology as a major motivating factor in its decision, suggesting that the company’s technology will help support the FIDO authentication protocol and meet the growing demand for simple payment solutions.

In that regard, LoginID has developed a collection of SDKs and APIs that make it easier for companies to add biometric authentication to their various apps, websites, and branded financial platforms. The entire integration process can be completed in as little as 15 minutes, while the solutions themselves are FIDO-certified and compliant with the latest international regulations, including the PSD2 regulations that went into effect in January.

Biometric technology allows financial institutions to meet PSD2’s strong authentication requirements without compromising the customer experience. Industry experts believe that biometrics will be used to authorize 18 billion payment transactions in 2021, and LoginID’s solution will help reduce fraud and ensure that those transactions are as smooth as possible. 

“Visa recognizes its role in promoting a secure payment experience for consumers and frictionless transaction processing for merchants,” said LoginID CEO Simon Law. “Together, we are helping companies integrate and scale strong authentication at low cost, while ensuring compliance with PSD2 and GDPR regulations.”

“Biometric technologies offer greater convenience and stronger security, and are the gold standard for online authentication,” added Visa Global Data, Security, and Identity Products SVP Melissa McSherry. “Visa’s investment and continued partnership with LoginID will help deliver innovative solutions that will improve convenience and payment security.”

LoginID has partnered with Ipsidy to deliver a more comprehensive biometric onboarding solution. The company has also released a new WordPress plugin to enable passwordless authentication on the platform.

–

(Originally posted on FindBiometrics)

Filed Under: Industry News Tagged With: APIs, Biometric, biometric authentication, biometrics, FIDO, financial services biometrics, investment funding, LoginID, PSD2, SDKs, Visa

Related News & Articles

Broadcom to Buy Symantec’s Enterprise Security Business for $10.7B

Biometric Age Verification Can Curb Youth Gambling in UK: Jumio

Google Enhances Password Manager in Chrome Update

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

  • NordPass, Yahoo! Japan, and Regula Keep Up Mobile Biometrics Momentum
  • NordPass Enables Biometric, TOTP-secured 2FA for Business Users
  • Mastercard Solution Certified Under UK’s Digital ID Framework
  • Transatlantic Digital Traveler Identity Project Gets High-Profile Tech Partner
  • Digital Identity Tech Demo Online Event

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