The FIDO Alliance Welcomes Visa to the Board of Directors

The FIDO Alliance Welcomes Visa to the Board of Directors 
MOUNTAIN VIEW, CA and NEW YORK, NY -- (Marketwired) -- 05/20/14 -- 
The FIDO (Fast IDentity Online) Alliance
(http://www.fidoalliance.org/), an industry consortium
revolutionizing online authentication with standards for strong
authentication, today announced that Visa Inc. (NYSE: V), the global
payments technology company, has joined the FIDO Alliance and been
appointed to the Board of Directors. Visa Europe will join the
alliance as a sponsor member and will be represented on the board by
Visa Inc.  
"Strong authentication is vitally important as the future of payments
becomes increasingly mobile and digital," said Mark Nelsen, head of
risk products and business intelligence, Visa Inc. "As payment
technologies continue to advance, an open, scalable and interoperable
framework will support a move away from simple, static password-based
authentication and towards more advanced methods that will improve
security as well as enable more frictionless, convenient commerce."  
"With the addition of Visa to the FIDO Alliance board, our leadership
includes the world's leading payments networks and services
providers. Though FIDO specifications are not currently designed to
address all aspects of secure payments, it's clear that payments
technologies and services are fundamental to the development of
better authentication that is capable of overcoming the risks and
limitations associated with password dependencies that date back a
half century," said FIDO Alliance president Michael Barrett. "We
welcome Visa to the FIDO Alliance board and to the forefront of
stronger and easier-to-use authentication." 
FIDO Alliance members commit to share technology and collaborate to
deliver open specifications for universal strong authentication that
enables FIDO-compliant authentication methods to be interoperable,
more secure and private, and easier-to-use. 
FIDO specifications will support a full range of authentication
technologies, including biometrics such as fingerprint, eye and iris
scanners, voice and facial recognition, as well as further enabling
existing solutions and communications standards, such as Trusted
Platform Modules (TPM), USB Security Tokens, embedded Secure Elements
(eSE), Smart Cards, Bluetooth Low Energy (BLE), and Near Field
Communication (NFC). The open specifications are being designed to be
extensible and to accommodate future innovation, as well as protect
existing investments. FIDO specifications allow the interaction of
technologies within an interoperable infrastructure, enabling
authentication choice to meet the distinct needs of users and
organizations. 
About Visa Inc. 
 Visa is a global payments technology company that
connects consumers, businesses, financial institutions, and
governments in more than 200 countries and territories to fast,
secure and reliable electronic payments. We operate one of the
world's most advanced processing networks -- VisaNet -- that is
capable of handling more than 47,000 transaction messages a second,
with fraud protection for consumers and assured payment for
merchants. Visa is not a bank and does not issue cards, extend credit
or set rates and fees for consumers. Visa's innovations, however,
enable its financial institution customers to offer consumers more
choices: pay now with debit, ahead of time with prepaid or later with
credit products. For more information, visit usa.visa.com/about-visa,
visacorporate.tumblr.com and @VisaNews. 
About The FIDO Alliance
 The FIDO (Fast IDentity Online) Alliance,
www.fidoalliance.org, was formed in July 2012 to address the lack of
interoperability among strong authentication technologies, and remedy
the problems users face with creating and remembering multiple
usernames and passwords. The Alliance plans to change the nature of
authentication by developing standards-based specifications for
simpler, stronger authentication that define an open, scalable,
interoperable set of mechanisms that reduce reliance on passwords.
FIDO authentication is stronger, private, and easier to use when
authenticating to online services. 
The FIDO Alliance Board of Directors includes leading global
organizations: ARM Holdings plc (LSE: ARM) (NASDAQ: ARMH); Bank of
America Corporation (NYSE: BAC); BlackBerry(R); CrucialTec (KRX:
114120); Discover Financial Services (NYSE: DFS); Google; IdentityX;
Lenovo; MasterCard (NYSE: MA); Microsoft (NASDAQ: MSFT); Nok Nok
Labs, Inc.; NXP Semiconductors N.V. (NASDAQ: NXPI); Oberthur
Technologies OT; PayPal (NASDAQ: EBAY); RSA(R); Samsung Electronics,
Ltd (KOSCOM: SECL); Synaptics (NASDAQ: SYNA); Visa Inc. (NYSE: V);
Yubico.  
Media Contacts: 
Suzanne Matick
for FIDO Alliance
831-479-1888 
suzanne@matick.net 
Sandra Chu
Visa Inc.
650 432 1217
sanchu@visa.com 
 
 
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