Transaction signing is used for payments and transfers where the payment transaction is initiated from the mobile bank or the internet bank. But the system also has features that make credit card payments more secure and card fraud virtually impossible.
One way of achieving this is by letting the user approve online purchases with card payment authentication. The transaction context and the amount payable are presented to the user to authenticate via a secure channel in the mobile.
To have the CVV code on the back of the card is not a secure solution. But with the Verisec Platform of Digital Trust you can get around this by allowing the platform to generate dynamic CVV codes for a virtual debit card. An alternative to the dynamic CVV codes is to allow the user to validate their card payments for online purchase through the transaction to show up on the mobile app, also known as card payment authentication.
The Verisec Platform of Digital Trust can be used for automated personalization and key management of point of sale (POS) terminals for easier management and reduced risk of blockage in payment flows.
Cardless payments is also offered by the Verisec Platform of Digital Trust. Using the mobile phone for payments is a solution making it easier for customers to carry out their business.