MasterCard to Use Text Messages For Extra Security During Transactions

nokia-phone-mastercard-logoWith all the hackers and security threats out there, credit card companies are breaking their backs trying to make their cards as secure as possible. MasterCard’s new layer of security, to be released in the first half of next year, uses a cell phone to authenticate your online transactions by asking for a password that is sent via SMS or generated on the spot by JAVA application. The goal is to improve the user’s protection against phishing schemes and man in the middle attacks. It will also make managing your credit card, and sending and receiving payments from your cell phone possible.

(Via PCWorld)

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