Mobile Based Two Factor Authentication For Online Transactions Authentication For Online Transactions

2 As online banking fraud continues to grow, consumers’ deep-seated security fears remain one of the biggest barriers to online banking. The Need There are three reasons why internet banking requires increased security: online fraud is on the up; customers need reassuring; and changes in the industry demand it. Mobile based Two Factor Authentication enables Bank’s Credit/Debit card customers to do online transactions in a secured way with an additional authentication added using registered mobile number of the customer. Bridging The Gap What is Mobile based Two Factor Authentication

3 Product Overview Mobile based authentication for online transaction works with the combination of verification of the user data which is present on the Credit/Debit Card (Verified by Payment Processor) and sending a call to registered mobile number of customer and getting confirmation from him/her (Additional Authentication) Online Payment Transaction Authentication at Payment Gateway & Bank Two Factor Authentication over call Transaction Completion

4 Transaction Initiation 1  User logs into a Merchant site and attempts for online transaction Card Details 2  User fills in the data for credit card on the site Inbound Call 3  After hitting the submit button, user receives a call on his registered mobile number 2 Factor Authentication 4  User answers the call and press “1” on his mobile, he/she is authenticated and the transaction is completed. Transaction Completion 5  Query Accepted online and transaction is processed Steps in Mobile Based Two Factor Authentication

5 Information Flow User attempts for Online payment on Merchant Site Fills up Card Details Payment Gateway Bank 1 Factor Authentication Altruist Outbound Application Autocall Sent on Registered Mobile Number and user presses 1 to confirm Transaction Successful Secure Convenient Quick

6 Alternate flow in case the user mobile is not reachable Application Offline User logs into a Merchant site where he/she wants to do a transaction User fills in the data for credit card on the site After hitting the submit button, user is not able to receive the call on his registered mobile due to network down, weak network etc User calls the call centre of the bank and authenticate himself/herself Call centre gives one time bypass to the user. User is able to do the online transaction without the need of mobile authentication. User attempts for Online payment on Merchant Site Fills up Card DetailsPayment GatewayBank 1 Factor Authentication Altruist Outbound Application Autocall Sent on Registered Mobile Number Transaction Unsuccessful One time by-pass allowed by CC Agent Transaction Successful

7 Threat against Key Loggers Phishing Man in the Middle Steal the Credit Card Steal the credit card information Need There are three reasons why internet banking requires increased security: Online fraud is on the up Customers need reassuring; and Changes in the industry demand it.

8 Protect Protection against Credit card stealing Save A significant reduction in the losses (financial and otherwise) incurred as a result of phishing-related fraud Litigation Shielding An enhanced shielding against litigation that may arise from phishing-related incidents Competitive Positioning Greater customer comfort with conducting business online due to improved security delivered imposing complicated requirements on users Ease No Need of remembering another password/pin. Secure Highly secure as no account information sharing required. Application to relay only the input given by user based on which the Bank or the Payment Gateway can accept or reject transaction Benefits

9 Why Altruist Data Advertising M Banking Entertainment & Classifieds Total Telecom Solutions Stimulate Explore Develop Expand Our Aim is to make Mobile part of the customer Lifestyle A number of service are adopted based on different Market Dynamics Technolog y Trends Market Trends Customer Behavior Continuous focus around rapid development of market driven services that meet customer needs and will be adopted in daily use Our Goal is to Capitalize on VAS and technology to generate new revenue streams and generate customer loyalty for the partners

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