Visa has made an investment in LoginID, a startup that offers a range of APIs and SDKs designed to simplify the integration of Fido-certified biometric authentication into websites and applications.
The specifics of the investment amount have not been disclosed, following LoginID’s recent $6 million seed funding round. LoginID claims that its APIs and SDKs allow companies to seamlessly incorporate Fido-certified authentication into any platform, such as websites, applications, e-commerce, or banking services, in as little as 15 minutes.
Traditionally, implementing this level of authentication has been complex and time-consuming. In Europe, the introduction of Strong Customer Authentication (SCA) regulations was initially scheduled for September 2019 but has faced numerous delays due to pressure from merchants and payment stakeholders. Recently, the UK’s Financial Conduct Authority announced a further six-month extension to the implementation timeline to reduce disruptions for consumers and businesses.
Melissa McSherry, SVP of global data, security, and identity products at Visa, stated, “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.”