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MasterCard Goes Mobile With Chip-And-PIN Displays

Written by Fred J. Aun
November 19th, 2009
For regions where chip-and-PIN payment cards are popular, primarily Europe (and definitely not the U.S.), MasterCard is doing something that could boost Mobile Commerce: Users of both regular cell phones and Java-enabled smartphones can now get payment passwords displayed on their devices.

MasterCard is offering two types of the new mobile Chip Authentication Program (CAP), an SMS version and a downloadable app for smartphones. Both options present single-use passwords in a fashion similar to the home-based card readers usually supplied to consumers by banks to authenticate card-not-present transactions. With the SMS version, the one-use password is sent within a text message to a user's cell phone when the consumer reaches the point in the checkout process where the site asks for the secure code. Smartphone owners using the installed MasterCard app have their one-time-use passwords displayed after they enter a PIN.

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Posted in E-Commerce, Mobile/Wireless/Contactless, Payment Systems, Premium Content, Security/Fraud
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2 Comments | Read MasterCard Goes Mobile With Chip-And-PIN Displays

  1. Tom Mahoney Says:
    November 19th, 2009 at 12:11 am

    Just what we all need, another big security hole for the bad guys to get into.

  2. Mike Lyons Says:
    November 19th, 2009 at 10:14 am

    I concur Mr. Mahoney. Any safeguards in place to prevent money laundering through virtual bank accounts and unlicensed money remitters?

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