Advance Card Systems Ltd. introduced two new one-time password generators to the market. The APG8201 PINhandy 1 and APG8202 PINhandy 2 both utilize two-factor mutual authentication and work to create a barrier between possible security threats associated with bank transactions.
A 2010 study from Trusteer revealed that out of more than four million people, 73% of them share their online banking password with a non-financial Web site. This has created a much easier platform for security breaches to occur. This is what the multi-layered security solutions from ACS works to prevent.
A card holder simply has to insert their card into the OTP generator, being either APG8201 PINhandy 1 or APG8202 PINhandy 2, and then must enter a PIN code. Once both are verified the card holder will receive a non-reusable pass-code and then has the ability to complete the transaction.
Both APG8201 and APG8202, function the same under standalone mode, and meet all major international standards, specifically ISO 7816, EMV Level 1, MasterCardR CAP, MasterCardR PLA and Visa DPA.