Hear it from Frederic Lhostte, CEO at Sixdots
The massive uptake of mobile technology in recent years is affecting mainstream consumer behavior. How do you meet evolving consumer expectations while ensuring a comprehensive mix of security and usability in response?
The recommended authentication procedure for mobile devices, whether for banking, payment or commerce applications, is two-factor technology. Authentication should combine something the user knows, such as their PIN, with something the user has, such as a token or mobile handset, or in some cases, something the user is – such as a biometric identifier like a fingerprint. Any two of these factors are considered sufficient in terms of consumer authentication, especially given that at least one of them cannot be stolen online.
In Belgium, 50% of the population has a smartphone and 66% of Belgian households own a tablet. Yet 73% of all eCommerce shopping carts are abandoned before payment.
But Belgian success story Sixdots is setting a new mobile wallet standard – offering a perfect example of open platform strong authentication, which is user-friendly, convenient and secure.
