Smart Card Alliance Identity Council issues a white paper presenting the advantages of smart cards in internet payment transactions.
The Smart Card Alliance Identity Council, a non-profit organization working in the education of identity protection through solid authentication and authorization, has issued a white paper that presents and promotes the use of smart card credentials for online payment transactions. The Identity Council stands by the White House’s NSTIC initiative to create improvements in the use of credentials for online identity authentication in order to develop a “trusted identity ecosystem”.
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“As our use of the Internet has increased, so has cybercrime, especially identity theft. The NSTIC recognizes that traditional forms of online identity verification are no longer sufficient, and takes on the critical task of better securing our online lives,” said Bryan Ichikawa, senior manager, Deloitte & Touche LLP, and chair of the Identity Council.
The white paper discusses the difficulties of password usage in online identification and foregrounds the obvious weaknesses: We cannot remember numerous passwords for the countless sites that we visit on a day to day basis thus we use and re-use one or 2 passwords, which is, for security reasons, problematic at best.
The smart card is based on a tokenization technology, whereby each internet user is provided with a single and secure identity number to be used for all internet requirements and according to the Smart Card Alliance Identity Council, there are many advantages for the technology which is designed to protect again fraud:
- The cardholder alone can confirm a transaction.
- While securing the individual’s identity, his privacy is maintained.
- Smart-card token can store electronic identifications and diminishes the risk of hacking, copies and tampering.