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Visa Invests in LoginID to Accelerate Fido-Certified SCA

Verifi

Visa has invested in LoginID, the startup behind a series of APIs and SDKs that make it easy for firms to integrate Fido-certified biometric authentication steps into their sites and apps.

The size of the investment – which comes after a recent $6 million seed round for LoginID – has not been disclosed.

LoginID says its APIs and SDKs give companies the ability to easily integrate Fido-certified authentication to any website, application or e-commerce, or banking brand in as little as 15 minutes.

This level of authentication is usually complicated and time consuming to integrate. In Europe, Strong Customer Authentication rules were initially scheduled for introduction in September 2019 but have suffered a series of rolling setbacks amid mounting pressure from merchants and payments players.

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Just last month, the UK’s Financial Conduct Authority opted to delay the implementation by a further six months in an effort to minimise disruption to consumers and merchants.

Melissa McSherry, SVP, global data, security and identity products, Visa, says: Biometric technologies offer greater convenience and stronger security, and are the gold standard for online authentication. Visa’s investment and continued partnership with LoginID will help deliver innovative solutions that will improve convenience and payment security.”

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