Page 101 - Pay Magazine s2014

volume 7 • fall 2014
customer-not-present situation, Dancu says. When there are issues with an identity, IDology can esca- late to higher levels of verification to differentiate between a legitimate consumer and a potential fraudster.
Security always is diametrically opposed to convenience, suggests Kealy, so the more security can be automated and kept behind the scenes—like encrypting data, for example—the more successful sec- urity efforts will be because they’ll elicit less pushback from consumers.
Another maxim to follow, according to Kealy, is: If you take something away, give something back of equal or better value. For example, if you disallow customers’ easy-to-remem- ber passwords because they’re easy to hack, be able to offer them an app with lots of features.
“You improve the security of the app by preventing them from using a silly password or you make them change passwords more often, but you really put effort into designing an app with so many features that
it becomes a pleasure to use,” he says.
Still, with all the best intentions and greatest efforts, no security plan is impenetrable. Despite this sobering circumstance, Pierson sees a potential silver lining. “While it’s terribly unfor- tunate when data breaches occur, they force the industry
to develop more secure solutions,” he says. “In the end, consumers will be better off and so will industry players.”
paybefore.com 99