EMV-CAP
Strong authentication with VASCO

Overview:

Internet fraud is still on the rise and fraud schemes become evermore sophisticated. Phishing attacks, Trojan horses, key loggers and man-in-the-middle attacks have made the need for user and transaction authentication even more indispensable in e-banking and e-commerce environments.

EMV financial transactions are more secure against fraud than traditional credit card payments, which use the data encoded in the magnetic stripe on the back of the card. This is due to the use of encryption algorithms. These algorithms provide authentication of the card to the processing terminal and the transaction processing center.

The Chip Authentication Program (CAP) is a MasterCard initiative. CAP is a form of two-factor authentication as both a smartcard and a valid PIN must be present for a transaction to succeed. CAP leverages existing EMV technology and infrastructure.

Goal

EMV-CAP solutions allow banks to mitigate risks of Internet fraud by deploying strong authentication without inconveniencing their end-users.

Solution

VASCO’s CAP-bases solutions are suitable for mass deployment in retail banking. The solution leverages existing EMC technology and infrastructure. A customer’s regular debit and/or credit card can be used to generate one-time passwords and e-signatures offering strong authentication.

VASCO offers strong authentication through three authentication mechanisms:

• event-based one-time passwords
• challenge/response schemes
• transaction data signing

Each of these authentication mechanisms can also secure multiple applications - from online banking services to e-commerce.