HYPR gets sticky with the FIDO alliance
20 April 2015 18:57 GMT

New York-based biometric payments startup HYPR Corp has joined the Fast IDentity Online (FIDO) Alliancet, an industry consortium transforming online authentication with standards-based specifications.

HYPR Corp is developing a biometric payment gateway called HYPR-3 that it says will enable biometric security for any payment method – bitcoin, QR Codes and NFC terminals.

George Avetisov, CEO at HYPR Corp., said about joining FIDO:

"The proliferation of the Internet of Things is making biometric authentication a necessity. Security threats are increasing almost daily as cyber criminals circumvent passwords and two-factor authentication. New methods are needed, and having agreed-upon standards will ease the transition. The HYPR implementation helps to remove today's antiquated, fragmented and insecure authentication solutions by providing a framework for billions of mobile devices across the enterprise ecosystem. We are pleased to be a member of the Alliance."

The HYPR Corp solution is a three factor authentication protocol. The fingerprint swipe unlocks an encrypted token generator. An encrypted token is instantly transmitted to a user's pin-locked mobile device via Bluetooth. The mobile device transmits the request as a one-way beacon to the cloud and the digital wallet transaction is authorized. According to the company, the HYPR-3 swipe sensor requires an actual human finger to wake up the sensor.

This feature makes it almost impossible to spoof the device, it says. In order to succeed at wrongdoing, a hacker would require physical access to the phone, access to the HYPR-3, knowledge of the phone's PIN, and control of the user's finger.

Brett McDowell FIDO Alliance executive director, said:

"The FIDO Alliance is proud of our associate member HYPR for its dedication to open industry standards for strong authentication. They join a powerful FIDO ecosystem that promotes adoption of interoperable, simpler, stronger authentication that not only simplifies the user experience, but also raises security and privacy for all use cases."