ACS launches APG8201 and APG8202 dynamic OTP generators for e-banking security
With the proliferation of identity theft cases among online banking users, it is imperative for the banking sector to adopt sophisticated solutions to secure the online banking environment. The two-factor authentication process offered by the new APG8201 PINhandy 1 and APG8202 PINhandy 2 One-Time Password Generators can prove to be an effective solution to such a vulnerability.
- (1888PressRelease) September 30, 2010 - Advanced Card Systems Ltd. (ACS, wholly owned subsidiary of Advanced Card Systems Holdings Ltd., SEHK: 8210), Asia Pacific's number one supplier of PC-linked smart card readers, today announces the launch of APG8201 PINhandy 1 and APG8202 PINhandy 2 One-Time Password (OTP) Generators. Both new products are designed to provide banking customers with an easy implemented solution to process bank transactions securely.
Trusteer, an internet security firm, based in the USA, reports in a study involving more than four million respondents that 73% of internet banking clients share their online banking password with at least one non-financial website, while 47% share both their online banking username and password with at least one non-financial website. These numbers reveal an alarming trend in web activity, which makes it easier for internet crime groups to steal online identity (i.e. username and password) from those less secure non-financial websites and then carry out frauds in the financial service websites. (Source: Reuters, 2010)
In order to provide banking clients a secure way to manage their bank accounts by internet, ACS offers OTP generators to authenticate cardholders. Utilizing two-factor mutual authentication, cardholder first inserts his banking card (something he has) into the OTP generator, either APG8201 PINhandy 1 or APG8202 PINhandy 2, and enters his PIN code (something he knows) via the built-in PIN-pad. Both factors must be verified in order to generate an OTP, which is a unique and non-reusable password. Using this OTP, clients can securely login their account or process a transaction.
"The launch of these two new products signifies our commitment to providing security to the banking sector using smart card technology," stated Gilbert Leung, Sales Director of ACS. "We have found a way to provide banking clients with a solution that strikes a balance between the ease and security of managing their online accounts."
Both devices, APG8201 and APG8202, function the same under standalone mode, and are compliant with major international standards, namely ISO 7816, EMV Level 1, MasterCardR CAP, MasterCardR PLA and Visa DPA. The only difference is that APG8201 PINhandly 1 offers the additional function to support PC-linked mode for other smart card applications. With its Secure PIN Entry (SPE) support, APG8201 PINHandy 1 ensures that every PIN code entered via its keypad will not be exposed to security threats even when it is connected to the PC.
For more information, visit http://www.apg8201.com/ and http://www.apg8202.com/.
About ACS
Advanced Card Systems Ltd. (ACS, wholly owned subsidiary of Advanced Card Systems Holdings Ltd., SEHK: 8210), founded in 1995, is Asia Pacific's number one supplier of PC-linked smart card readers and winner of Product Quality Leadership Award for Smart Card Readers from Frost & Sullivan. One of a select group of global companies at the forefront of the smart card revolution, ACS develops a wide range of high quality smart card reading/writing devices, smart cards and related products and distributes them to over 100 countries worldwide. Visit ACS at http://www.acs.com.hk.
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