Mastercard and Visa to Create New Security Standard to Replace Passwords for Online Payments
MasterCard is working with Visa to create a new authentication standard for online payments that will gradually replace the 3D Secure protocol with “invisible authentication”, far fewer prompts for passwords and support for a range of biometric technologies.
The new standard, which could be adopted as soon as 2015, “will be the largest wholesale upgrade to online payment security,” MasterCard says.