Sign2Pay, a financial technology company, has launched its mobile payment method in London.
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With their touch enabled mobile devices, Customers can pay for online orders using their bank account number and their personal signature.
The amount to be paid is directly debited from the consumer’s bank account while the merchant is protected against fraudulent transactions.
The company’s digital signature processing platform, which analyses more than a thousand datapoints in a single signature, offers a security level on par with biometric authentication and far outweighs the security level of traditional passwords and PIN-codes.
The new solution does not require additional hardware such as card readers, ?nger print readers or other biometric authentication devices.
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By GlobalDataNicolas Mertens, CEO and co-founder of Sign2Pay, said: "Online debit payments have been plagued by inconvenient and cumbersome authentication methods such as challenge response systems and physical card readers.
"Allowing users to use their personal signature not only increases trust and speed, it also increases sales conversion rates for merchants."
