09:52:11 EDT Wed 05 Aug 2020
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NetCents Technology Inc
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Close 2020-07-14 C$ 1.24
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NetCents begins using LoginID for authorization

2020-07-14 07:41 ET - News Release

Mr. Simon Law of LoginID reports


LoginID Inc. has entered new partnerships, including with NetCents Technology Inc., as part of its launch of FIDO-as-a-Service, for small- and medium-sized enterprises. This follows on its recent announcement for the Indonesian market, with eKYC leader, ASLI RI. The new partners announced will integrate the LoginID FIDO2 and UAF certified biometric strong customer authentication in support of various use-cases.

By integrating the LoginID strong customer authentication, partners will now be able to reduce end-user dependency on weak log-ins and passwords. According to the FIDO Alliance, 64 per cent of e-commerce customers and 78 per cent of peer-to-peer transfer users prefer stronger authentication versus traditional log-ins and passwords. With LoginID's FIDO-as-a-Service, partners will be able to provide their customers additional confidence, and higher security in their daily digital interactions, eliminating passwords and log-ins. "Developers and enterprises are looking for very low-lift integrations of leading-edge products. Our FIDO2 and UAF certified strong customer authentication can be integrated in less than an hour, and will provide end-users a frictionless experience," says Simon Law, chief executive officer of LoginID.

Differing from proprietary biometric solutions, the LoginID FIDO2 and UAF certified platform utilizes cryptographic security based on the customer's device hardware, therefore it is not vulnerable to hacks or OS takeovers. It works right out of the box, with no additional hardware or downloadable software required by customers. The customer experience is very simple and intuitive, with a biometric log-in button displayed, where customers can use their fingerprint scanner on their device to log-in to an application or website. Customers will not have to remember passwords or use other weaker forms of logging in.

Data on Tap is a Canadian-based telecom technology company that is developing a digital ecosystem of highly customized mobile services serving smart phone customers. "With the LoginID FIDO2 service we will be able to increase digital in-app and Web interactions security and where required provide additional authentication and user level control," says Algis Akstinas, CEO of Data on Tap. "This will also alleviate any customer concerns around SIM swap attacks, which is becoming more of a prevalent issue for customers."

Execuvault is a Toronto-based FinTech Startup on a mission to transform the legacy transfer process using blockchain technology. Self-executing smart contracts record the terms of users' directives and bequests (assets, investments, life insurance policies and documents -- securely stored in a personalized vault); and then validate the criteria for assignment and disbursement. The XV legacy transfer platform automates the division of funds through trusted transactions -- which are digitally notarized and irrefutable -- and can be carried out among disparate, anonymous parties; without the need for a central authority or external enforcement mechanism. "We see a lot of flexibility around how we can easily integrate FIDO2 biometrics into our existing customer experience with LoginID," says Brian Kieller, chief executive officer of ExecuVault.

NetCents Technology provides a very simple way for merchants to accept cryptocurrency as a payment option for their customers. By integrating the NetCents crypto payment button, merchants have an easy way to process various cryptocurrencies and as a complement to traditional payment methods. "Security is top of mind for our merchants and their clients. Anything we can do to help further secure out interactions with our merchants or their customers, will help increase our future transaction volume," says Pat Albright, executive vice-president at NetCents Technology.

FroogalPay is middleware that provides software developers a quick and easy way to accept payments from within their application. "Our clients not only need the highest standard around security, but we need to ensure that we provide ways to increase conversions. With LoginID's FIDO2 biometric button, there are various ways merchants can integrate into their customer journeys, making it simpler and safer for customers to pay while protecting merchants from fraud," says Jonathan Reinsdorf, CEO of FroogalPay.

Global Asset Technology has developed an asset-based crypto token that can be used toward traditional assets. "With LoginID we will secure our interactions for our institutional clients, who need simple, yet rigorous security that eliminates threats to their accounts from outside parties," says Steve Katmarian, chief executive officer of Global Asset Technology.

POS Connect is a software developer and payment processor which provides merchants and enterprises secure ways to bill and collect payments. "More and more of our services are global in nature. Since the FIDO standard is aligned with regulatory standards such as PSD2 and GDPR, our clients will have assurances that services they are providing meet the expectations of the market as it relates to security and privacy," says Marius Kimel, CEO of POS Connect.

Mr. Law says: "These partners provide a great cross-section of the types of businesses that can leverage strong customer authentication by integrating a simple, biometric button. We expect to see more and more companies like these recognizing how easy it is to protect their customers while at the same time improving the overall experience."

LoginID will be adding more functions and features for partners and developers as part of its self-serve digital onboarding experience, in the coming weeks.

About NetCents Technology Inc.

NetCents Technology, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the cryptomarket.

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