The FIDO Alliance Welcomes Visa to the Board of Directors
May 20 2014 - 08:00AM
Marketwired
The FIDO Alliance Welcomes Visa to the Board of Directors
MOUNTAIN VIEW, CA and NEW YORK, NY--(Marketwired - May 20, 2014)
- The FIDO (Fast IDentity Online) Alliance
(http://www.fidoalliance.org/), an industry consortium
revolutionizing online authentication with standards for strong
authentication, today announced that Visa Inc. (NYSE: V), the
global payments technology company, has joined the FIDO Alliance
and been appointed to the Board of Directors. Visa Europe will
join the alliance as a sponsor member and will be represented on
the board by Visa Inc.
"Strong authentication is vitally important as the future of
payments becomes increasingly mobile and digital," said Mark
Nelsen, head of risk products and business intelligence, Visa Inc.
"As payment technologies continue to advance, an open, scalable and
interoperable framework will support a move away from simple,
static password-based authentication and towards more advanced
methods that will improve security as well as enable more
frictionless, convenient commerce."
"With the addition of Visa to the FIDO Alliance board, our
leadership includes the world's leading payments networks and
services providers. Though FIDO specifications are not currently
designed to address all aspects of secure payments, it's clear that
payments technologies and services are fundamental to the
development of better authentication that is capable of overcoming
the risks and limitations associated with password dependencies
that date back a half century," said FIDO Alliance president
Michael Barrett. "We welcome Visa to the FIDO Alliance board and to
the forefront of stronger and easier-to-use authentication."
FIDO Alliance members commit to share technology and collaborate
to deliver open specifications for universal strong authentication
that enables FIDO-compliant authentication methods to be
interoperable, more secure and private, and easier-to-use.
FIDO specifications will support a full range of authentication
technologies, including biometrics such as fingerprint, eye and
iris scanners, voice and facial recognition, as well as further
enabling existing solutions and communications standards, such as
Trusted Platform Modules (TPM), USB Security Tokens, embedded
Secure Elements (eSE), Smart Cards, Bluetooth Low Energy (BLE), and
Near Field Communication (NFC). The open specifications are being
designed to be extensible and to accommodate future innovation, as
well as protect existing investments. FIDO specifications allow the
interaction of technologies within an interoperable infrastructure,
enabling authentication choice to meet the distinct needs of users
and organizations.
About Visa Inc. Visa is a global payments technology company
that connects consumers, businesses, financial institutions, and
governments in more than 200 countries and territories to fast,
secure and reliable electronic payments. We operate one of the
world's most advanced processing networks -- VisaNet -- that is
capable of handling more than 47,000 transaction messages a second,
with fraud protection for consumers and assured payment for
merchants. Visa is not a bank and does not issue cards, extend
credit or set rates and fees for consumers. Visa's innovations,
however, enable its financial institution customers to offer
consumers more choices: pay now with debit, ahead of time with
prepaid or later with credit products. For more information, visit
usa.visa.com/about-visa, visacorporate.tumblr.com and
@VisaNews.
About The FIDO Alliance The FIDO (Fast IDentity Online)
Alliance, www.fidoalliance.org, was formed in July 2012 to address
the lack of interoperability among strong authentication
technologies, and remedy the problems users face with creating and
remembering multiple usernames and passwords. The Alliance plans to
change the nature of authentication by developing standards-based
specifications for simpler, stronger authentication that define an
open, scalable, interoperable set of mechanisms that reduce
reliance on passwords. FIDO authentication is stronger, private,
and easier to use when authenticating to online services.
The FIDO Alliance Board of Directors includes leading global
organizations: ARM Holdings plc (LSE: ARM) (NASDAQ: ARMH); Bank of
America Corporation (NYSE: BAC); BlackBerry®; CrucialTec (KRX:
114120); Discover Financial Services (NYSE: DFS); Google;
IdentityX; Lenovo; MasterCard (NYSE: MA); Microsoft (NASDAQ: MSFT);
Nok Nok Labs, Inc.; NXP Semiconductors N.V. (NASDAQ: NXPI);
Oberthur Technologies OT; PayPal (NASDAQ: EBAY); RSA®; Samsung
Electronics, Ltd (KOSCOM: SECL); Synaptics (NASDAQ: SYNA); Visa
Inc. (NYSE: V); Yubico.
Media Contacts: Suzanne Matick for FIDO Alliance
831-479-1888 Email Contact Sandra Chu Visa Inc. 650 432 1217 Email
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