According to ABI Research, the market for metal payment cards is expanding rapidly and is expected to reach 90 million cards (cumulative) by 2025. In addition, CompoSecure, the category leader in metal payment cards, and Nok Nok Labs, the co-founder of the FIDO Alliance and leader in passwordless authentication, recently revealed they would bring to market the first Internet ID and Payment Card that can be used as a virtual ignition key for the authentication of a user into any digital service on any device.
This new offering will combine Nok Nok’s passwordless, secure and scalable authentication server with CompoSecure’s three-factor authentication technology and patented metal NFC hardware to ensure a high level of security on any device or card. In addition, all transactions using the CompoSecure internet ID and payment card will be enabled to be used for either a POS or a card-not-present transaction.
Other everyday use cases for the card include cryptocurrency transactions, eGaming, online gambling, and identity verification applications. Phil Dunkelberger joins me in a conversation about the recent announcement and shares insights from his career in tech.
About Nok Nok
Nok Nok is a trusted leader in passwordless consumer authentication to the world’s largest organizations. Delivering the most innovative authentication solutions in the market today, Nok Nok empowers global organizations to improve the user experience to access digital services, while meeting the most advanced privacy and regulatory requirements.
The Nok Nok™ S3 Authentication Suite integrates into existing security environments to deliver a proven, cost-effective, future-proof and standards-based passwordless consumer authentication solution. Headquartered in Silicon Valley, California, the company has delivered unique inventions and innovations that are protected by a robust global patent portfolio.
As a founder of the FIDO Alliance and an inventor of FIDO specifications, Nok Nok is the expert in deploying standards-based authentication, and its industry leading customers and partners include BBVA, DDS, Inc., Ericsson, Fujitsu Limited, Hitachi, Intuit, Lenovo, MTRIX GmbH, NTT DATA, NTT DOCOMO, OneSpan, SoftBank, T-Mobile and Verizon.