SRPc Establishes Authentication Working Group
May 4, 2015
The Secure Remote Payment Council (SRPc), a New Jersey-based trade association advocating for more secure online and mobile transactions, today established a working group that will investigate the state of consumer authentication for online payments and promote ideas on how it can be improved. The working group set out its criteria for what it believes constitutes a “viable cardholder authentication solution” in a position paper and will work to evaluate and recommend solutions that meet those criteria. The group said a successful authentication solution includes: broad consumer adoption, compliance with open standards, support for multifactor authentication in accordance with FFIEC guidelines, a simple user experience and a high degree of security for customer credentials, among others.
The group is calling for more collaboration among industry stakeholders and that all stakeholders have a voice in the process. The SRPc noted the collaborative work of another group working on stronger authentication—the FIDO Alliance—as a model for how it hopes to operate.
“Authentication is too important to leave to the few to solve,” said Paul Tomasofsky, president and executive director of the Secure Remote Payment Council. “Collaboration is the key. Industry collaboration means that all stakeholders sit at the table as equal partners and have equal vote in determining the outcome.”