Bell, Rogers and Telus’ identity verification organization EnStream is partnering with a digital authentication company called Payfone on a new mobile-based authentication platform.
The platform looks to eliminate the need for multiple passwords across different services.
The new service is set to initially be available in Canada and will allow consumers to log into accounts or verify transactions from participating online services within a single app on their phones. Participating services can also incorporate their own branding into the app to offer a universal experience.
The Mobile ID app will be powered through EnStream’s Mobile Connection solution, which comes out of a joint venture between Bell, Rogers and Telus, and Payfone’s Trust Score identity and fraud analytics solution, used by the likes of retailers, health insurance companies and Fortune 100 banks.
“Consumers have too many passwords, or re-use the ones they have too many times, increasing the risk of identity theft and account takeovers by hackers,” said Rodger Desai, CEO of Payfone, in a press statement. “Two- factor authentication helps, but it’s clumsy and complicated, and doesn’t really deal with the underlying problem—passwords. Wouldn’t it be great if online identity worked like credit cards—ultra-convenient and trusted by everyone, everywhere?”
“Login with your phone will one day become as ubiquitous as being able to use your credit card anywhere you shop,” added Robert Blumenthal, EnStream’s Chief Identity Officer.
“But it has to be much easier to use and much more secure than SMS passcodes to be trusted by online services and consumers alike. We provide device-based security enabled with a secure PIN or biometrics, enhanced by real-time mobile network verification and fraud analytics to protect your identity.”
A launch date and specific participating online services have not yet been confirmed.
Via: Canada Newswire