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Product: Vality Keyless Authentication
Company: Vality Corp.
Payments security provider Vality Corp. launched Vality Keyless Authentication, an advanced technology solution designed to protect against quantum computing (QC) attacks. By leveraging quantum randomness, the software platform can protect the entire commerce value chain, from merchants and issuers to end-users, according to company representatives. Peter Quadagno, co-founder, president and CEO at Vality, noted the software platform's innovative technology can prevent most types of card payment fraud, particularly card not present (CNP) fraudulent activities.
"We are the only fraud fighting and deterrent solution that uses a software language and technology instead of big data analytics and artificial intelligence, which in the final analysis boils down to probability theory and the manipulation of statistical data," Quadagno said. "Our system can't be reverse engineered because it's based on quantum randomness."
Quadagno explained that QC has revolutionized data processing, and hackers are exploiting this technology to break digital encryption faster than ever before. In a few seconds, QC can perform tasks that once took computers hundreds of years to complete, he noted, while pointing out that Vality Keyless Authentication hardens encryption security by preventing bad actors from accessing cipher keys used in standard encryption methods.
"For the past few years many major IT companies have been developing better and faster QC and are currently in a race to deliver powerful QC for their own use and their client's use," Quadagno said. "The Federal Reserve estimates QC systems will become broadly available in less than 5 years."
Quadagno suggested that Vality Keyless Authentication levels the QC playing field because it enables enterprises to fight against QC attacks with equally strong QC-powered capabilities. The platform, which is accessible through Vality's API, is designed to natively run on a merchant's mobile app while defending against present and near-future attacks of all types.
Quadagno further noted that merchants and issuers can add Vality Keyless Authentication to their databases without modifying existing security, authentication or authorization software. In addition, merchants can tap into Vality's API to selectively access features, based on each transaction's risk criteria, or bypass it entirely for transactions that pose low-to-moderate risk.
Vality Keyless Authentication provides unique fraud fighting tools that, Quadagno noted, can be a competitive advantage and brand differentiator. The cloud-based solution runs on existing servers, creating a competitively priced, virtual solution and always-on, always-connected API backed by Azure and AWS, he added.
"Using Vality's Keyless Authentication gives ISVs, ISOs, Gateways and PayFacs another tool for customer retention and an offering that has distinguishing characteristics from every other fraud fighting tool they might present to their merchant customers," he said
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