Mobiles set for key role in card authentication

Thursday, 13 July 2006, 4:29 PM EST

Mobile phones could be used to authenticate financial transactions in the UK, says the head of financial crime at Lloyds TSB.

South Africa’s First National Bank and two banks in New Zealand are already using SMS to deliver authentication codes, but Lloyds TSB’s Ken Farrow says the phone is set to become the actual card-reading device.

At vnunet.

[ Read more ]




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