SURESNES, France–MasterCard International unveiled a new online security solution for the US banking market, at the CardTech-SecurTech trade show in San Francisco, California. This offer includes a strong authentication solution designed and developed by leading authentication specialist XIRING.

Following the FFIEC guidance (the Federal Financial Institutions Examination Council), US banks have been directed to upgrade from single to two-factor authentication for “high-risk” online transactions. This applies to more than 52 million online banking users in the US*. “All-in-One” authentication offer, including XIRING solution, will provide the added security required by the FFIEC guidance.

The neat, standalone device hosts a secure chip, working in a two-factor authentication mode: something you have - the device - and something you know - your PIN code. After entering the PIN into the device, the secure chip generates a unique, one-time password (OTP), complying with EMV and CAP methods, that enables the user to conduct safe online banking transactions. The dynamic OTP replaces the less secure static password.

“MasterCard ‘All-In-One’ Offer includes one of our authentication solutions designed to provide a higher level of security for online banking. With over 2 Million similar devices already in circulation it is a tried and tested solution. All-In-One is simple, light, and can be used anywhere in conjunction with any internet connection or telephone banking access: it goes where you go!” says Nigel Reavley, Director of Banking Business Unit, XIRING.

About XIRING XIRING designs, manufactures and markets smart card based security products and solutions. Through authentication and digital signature it allows private and professional users to secure their electronic transactions. XIRING focuses on remote banking and health care applications and leverages an international network of more than 50 business partners. Six million XIRING readers have been delivered in 30 countries. For more details: www.xiring.com.