Alaric Bolsters Authentication with Virtual PIN Solution
May 9, 2013
Alaric, a London-based antifraud and ID authentication provider, this week unveiled a solution that gives consumers the control to authorize card payments online and on tablets and smartphones. The company’s myPinPad presents cardholders making purchases online or on a mobile device with a one-time virtual PIN pad for EMV-compliant security. Combined with its processing solution, Alaric said using a PIN takes card-not-present transactions and converts them to card-present transactions reducing costs and reducing chargebacks.
“There have been many advances in the world of payments, but easy and cost-effective authentication of the individual making the payment has always proved a challenge,” said Mike Alford, CEO at Alaric. “We can now offer myPinPad to the market and provide a secure solution for cardholder PIN entry across mobile devices and web browsers, separating the authentication of the user from the physical POS device.”