LM Gemplus’ user Authentication Server, GemAuthenticate, has been successfully tested against the MasterCard OneSMART Chip Authentication Program (CAP) specification.
The approval makes it possible for financial institutions to use GemAuthenticate with the popular MasterCard authentication program.
Gemplus is the first smart card manufacturer to achieve this certification.
Using the GemAuthenticate Server, MasterCard's customer financial institutions can secure customer access to online banking services and online purchases using two-factor authentication.
Cardholders simply insert their standard EMV card into a portable reader, which is supplied to them by their bank and enter their PIN.
Each time a user enters their PIN, a one time password (OTP) is generated and used to authenticate the user over the bank's network.
Users can then access their online banking services and make online purchases knowing their personal information is safe and secure. In addition to reducing fraud, the solution helps to reduce password management costs.
The OneSMART Chip Authentication Program is part of MasterCard's SecureCode program, which extends MasterCard's guaranteed payment model to the Internet.
Issuers have the option of selecting the authentication solution that best meets their business and risk management requirements.
For the consumer, the benefits are also numerous. CAP offers a single access method to all banking services and secures online transactions with little impact to the overall shopping experience.