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May 31, 2019

Truxtun Capital launches FIDO-certified payment card

Switzerland-based fintech Truxtun Capital has launched a new payment card that leverages acoustic technology to offer additional security.

Dubbed Wega 3DSA 2.0, the new offering is being made available by the company in the UK through a partnership with Manchester City Football Club.

The white label solution is said to be the first commercial deployment of a FIDO-certified payment card.

In addition to Mastercard, Wega 3DSA 2.0 is compliant with incoming GDPR and PSD2 regulations.

The company claims the new card will give consumers more control over their identities and accounts.

The card also provides consumers with the option to choose the form of multi-factor authentication.

The acoustic technology can be combined with the iOS City Wega app in order to assure the existence of a physical card during online purchases.

Upon receiving a prompt, the card will play exclusive notes which will be picked by the app to confirm the sale.

The sequence of notes will differ on every purchase to ensure high level of security and avoiding fraudulent transactions.

FIDO chief marketing officer Andrew Shikiar said: “Truxtun’s Acoustic technology introduces an innovative way to provide simpler and stronger FIDO Authentication to consumers making digital transactions.

“With the Wega City Supporter’s Card now available, City fans will benefit from the strong security, privacy and convenience that FIDO Authentication provides.”

Truxtun Capital has been a part of FIDO Alliance’s Europe Working Group, which was formed in 2017.

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