Mastercard Incorporated
AUTHENTICATION SYSTEM AND METHOD FOR SERVER-BASED PAYMENTS

Abstract:

A method of performing a payment transaction employing a two-factor authentication mechanism. In an embodiment, a user device operated by a user during a payment transaction engages in cryptographic processing with a cryptographic function having a secret key encoded therein. The cryptographic function is stored in a storage device of the user device, and the secret key serves as a first authentication factor. The method also includes the user device utilizing a second authentication factor, which was implemented using only software security techniques, in performing the payment transaction.