Online payment self-authentication 'offers security and flexibility'

Category: Security

March 6th 08, 11:30

A new online payment system departs from the conventional model of making users' bank details available to retailers or payment providers.

Instead, the eWise network enables direct fund transfers between bank accounts - a method the firm asserts is both flexible and secure.

Mark Matthews, UK managing director of eWise Systems, states that the company's new payment model is more appropriate to Britain's "debt ridden society" as it offers consumers the chance to select from a variety of accounts or cards when making payments.

According to Mr Matthews, security is a key driver of the technology, which implements safe architecture and does not allow eWise access to consumer login details.

"Instead of entering your card details, we are alleviating that risk for the consumer….They don't enter their card details online [and] the merchant doesn't hold any financial information about the consumer," he explains.

This year's Fourth Annual Online Fraud Report by Cybersource finds that some 30 per cent of online retail customers have not altered their habits in light of fraud concerns.

This news story was brought to you by Bluhalo, a leading UK digital agency.

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