The FIDO Alliance has a new member in myPINpad, a consumer authentication solutions provider. In a press release, the company stated that “FIDO and myPINpad seek to solve one of the greatest challenges of modern computing – securing mobile authentication.”
The company’s solution can work as a self-hosted solution or under a software as a service (SaaS) model, and seeks to bridge Cardholder PIN authentication with multiple Identity Authenticators, creating a multi-factor authentication system with relatively low integration and implementation costs for clients. Essentially, the myPINpad solution uses a tokenisation system to obfuscate Cardholder PIN information and host it in a secure cloud environment.
That approach seems to be very much in line with FIDO security principles, and makes myPINpad a natural fit for the alliance. Speaking in a press release, FIDO Alliance president Dustin Ingalls said that “myPINpad’s addition to our Alliance supports our industry goal to make user authentication easier and safer for all parties.” For his part, myPINpad CEO Philip King expressed excitement about working with the Alliance, noting, “As technological developments begin to out-pace industry and security regulation, the importance of creating solutions that guarantee the authenticity of end-users grows.” That’s certainly true for both the burgeoning Internet of Things, and in the expanding world of mCommerce; and as part of the FIDO Alliance, myPINpad could help to find and offer real, innovative solutions to the emerging security vulnerabilities.