Passwordless web to mobile authentication for payments, money transfers and account security
The comfort of online shopping, peer-to-peer money transfers and seamless payment systems encourage people to register new online accounts like never before. However, the downside of this digital shift is rising identity theft and account takeovers that threatens online businesses and those who use their services.
Financial damage and customer loyalty consequences
Scammers can hijack identities and grab credentials in many ways: pilfering emails, lifting e-wallets, skimming card readers and ATM’s, to name a few. Cybercriminals know that businesses still rely on unsafe authentication methods like account registrations with passwords, or re-authorizarions by SMS reset links – all of which are very easy to track, hack and steal. Besides substantial financial losses on both sides, account takeovers and credit card fraud could also devastate banks and merchant’s reputation causing ripple effects on customer loyalty and conversion – a situation that can be hard to recover from.
With COVR businesses can deploy true passwordless security and eliminate the dependency for account/user account passwords, upgrade user experience and boost customer trust and safety.
If you are interested in the full picture – please download our complimentary product sheet!