The Royal Canadian Mint has selected SecureKey to provide device-based multi-factor user authentication for its new MintChip cloud-based digital currency. Consumers will be able to make cash-like MintChip payments using their smartphones and other mobile devices.
“SecureKey offered us a robust, multi-platform solution that delivers a very high level of device security while providing MintChip consumers with a convenient, familiar payment experience,” said Marc Brûlé, chief emerging payments officer at the Royal Canadian Mint.
SecureKey’s briidge.net Connect Mobile SDK will be embedded in the mobile app, allowing the MintChip system to positively identify the mobile device connecting to the consumer cloud account through a unique device ID. Prior to a payment transaction, the software authenticates the user by their 4-digit QuickCode personal identification number (PIN). This QuickCode is like a debit or credit card PIN, but instead of being limited for use with just one card, the QuickCode can be easily extended across the user’s preferred devices for added convenience. The briidge.net Connect service can be applied to laptops, desktop PCs, mobile devices and even wearables to support payment of purchases made online and in-store.
“Instead of confronting the complexity of keys, certificates and other inconveniences, MintChip consumers will simply enter their QuickCode PIN on their mobile device to authenticate to their MintChip cloud account,” said Charles Walton, chief executive officer (CEO) at SecureKey.
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