Online transactions are becoming more and more unsecured as credit card fraudsters are none other than computer experts. For online transactions you use password but this password is no longer safe therefore to keep off the hackers into your mail accounts you can have another password.
Dr Shekhar Kirani, Vice-President of Verisign Services India Private Limited, in an interview told Business Line, “With hackers and mischief mongers breaking into mail accounts and sniffing transaction details, it is better to have the second password, or the Second Factor, to thwart their attacks.”
Dr Kirani had come to Hyderabad to take part in the two-day data security conference organized by theb National Association of Software and Services Companies last week.
Verisign, is a global leader in providing secure online solutions, is developing a credit-card sized Second Factor tokens to be launched in the Indian market.
In this process each time a user presses a thumb-sized mark on the card, he or she will get a six-digit number that will work as a second password. “The card can produce n-number of such passwords, exclusive to the user whose identity would be known to the bank’s transaction mechanism via the Verisign database,” he said.
Currently company is having talks with various banks and financial institutes to introduce the card. He further added, “As the usage increases, the same card could be used to generate multiple Second Factor passwords for different banks”.
He informed, “We are in talks with 150 banks, small and big, in India. Talks with 30 are in advanced stage”.
The inimitability about the technology is that the password created will stay for just 30 seconds.
He explained, “This will thwart remote access to passwords of bank accounts and other e-commerce sites. If hackers sitting in remote areas still want to break into your accounts, they need to physically steal the token cards that contain the other password. This, in fact, reduces the probability of hacking”.
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