See How Your Payments Over Internet Will Become More Secure

Business | October 6, 2017, Friday // 11:07
Bulgaria: See How Your Payments Over  Internet Will Become More Secure

Payments over the Internet or via your mobile phone will become more secure from abuse. This will be provided by a new law on payment systems, which has already been approved by the Council of Ministers.

One of the options in the law is that payment service providers will introduce identification of the payer through his fingerprint or the iris of the eye.

Currently, payments via the Internet or via the mobile phone are most often authenticated by passwords. Additional security is the one-time verification codes that can be generated by tokens or received by SMS or mail.

In the market, including in Bulgaria, there are already online payment service providers offering fingerprinting. However, the European Commission is expected to adopt regulatory technical standards for the deepening of customer identity. Companies will have 18 months after their entry into force to bring their business into line with their requirements.

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Tags: Internet, fingerprint, security, European Commission, Law
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