With its Wega 3DSA 2.0 product, Truxtun Capital has reached an
unachieved milestone in the payment industry by releasing the first
broadly available FIDO® Certified, multi-factor strong authentication
payment solution for consumers. The Geneva-based Fintech uniquely
combines several technologies in a mobile app, City Wega, available now
on iOS.
Truxtun Capital’s exclusive white label technology solution is
leveraging European and global security requirements with a unique
online on-boarding and identity validation process. The Wega payment
solution developed by Truxtun Capital provides customers with mobile,
virtual and physical card products in a simple user experience. Each
customer takes control of their own digital identity and security
profile on a mobile phone, while activating security credentials such as
personalised codes, customer-selected biometrics, and a FIDO, EMV and
Mastercard-compliant secure payment card.
Strong customer authentication and secure management of customer
identity combats payment fraud, and provides more trust in financial
services.
In giving the customer full control of authentication methods, this
solution, while reducing fraud, helps banks and eFinance institutions to
increase their overall service value and usage. Typical customer usage
includes secure access to financial applications and services, access to
bank account balances, card to card transfers, third party payments and
much more.
With Truxtun Capital’s white label technology, Financial Service
Providers can leverage identity profiles and trusted strong
authentication in order to ensure safe message and document deliveries
to their customers. Each trusted identity account encloses a secure data
repository (electronic safe box) used to store customers’ personal and
financial documentation, including financial statements, payment slips,
transfer notices, and approved customer confirmations.
The Wega City Supporter’s Card is Available Now
This state-of-the-art payment method is currently available through
Truxtun Capital’s Wega partnership with Manchester City Football Club.
Fans and interested parties alike can download the iOS City Wega app,
available in the UK, and order a Wega City Supporter’s Card fully
equipped with all of the specs listed above, including patented Acoustic
Technology. Wega 3DSA 2.0’s patented payment card with Acoustic
technology is a cutting edge solution to prove the card is present at
the time of any digital transaction by using a secret element issued by
the card itself, a dynamic and different set of notes delivered by a
press of the Mastercard logo on the card. The sound is unique every
single time and is accepted through the Wega mobile app, to provide
proof of approval of purchase, almost exactly like giving the card
itself at the moment of purchase. This feature is currently being used
as an option for logging into the app, but is earmarked for future use
in completing and validating purchases.
Truxtun’s Wega Card is FIDO Certified, which means it has been validated
as complying with FIDO specifications for simpler and cryptographically
secure consumer authentication.
Truxtun Capital’s next steps
Truxtun Capital is conducting a continuous market evolution watch, and
systematic innovation research in various fields such as:
-
3DS Secure friction-less authentication, and proven customer
confirmation documents -
Convergence between virtual and physical world authentication
solutions, in a search to optimise biometric usage and its components
Truxtun Capital’s groundbreaking field and intelligence analysis are
being achieved with the sole purpose of a transparent technology
strategy in identity management and financial information security.
Patrick Moynier, President of Truxtun Capital said:
“We are very pleased that the Wega City Supporter’s Card, already well
in advance of the requirement to adapt to new banking regulations
introduced in Europe for strong customer authentication, fully meets all
standards and new requirements today, here and now, offering a unique
product to all regulatory requirements of PSD2 and the RTS (Regulatory
Technical Standards), eIDAS and GDPR.”
Andrew Shikiar, Chief Marketing Officer of the FIDO Alliance, said:
“Truxtun’s Acoustic technology introduces an innovative way to provide
simpler and stronger FIDO Authentication to consumers making digital
transactions. With the Wega City Supporter’s Card now available, City
fans will benefit from the strong security, privacy and convenience that
FIDO Authentication provides.”
ENDS
About Truxtun Capital
Truxtun Capital has developed a state-of-the-art financial payment
solution and digital platform, providing the most robust and secure
payment method on the market. Through the City Wega app, Truxtun Capital
offers a FIDO Certified Mastercard with patented Acoustic Technology, and
advanced security features which include biometric verifications –
making it virtually impossible for anyone to access your account other
than you.
About the FIDO Alliance
The FIDO (Fast Identity Online) Alliance, 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 FIDO
Alliance is changing the nature of authentication with standards for
simpler, stronger authentication that define an open, scalable,
interoperable set of mechanisms that reduce reliance on passwords. FIDO
Authentication is stronger, more private, and easier to use when
authenticating to online services.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190529005144/en/