Mobile messaging and payment provider DIMOCO has announced it has experienced a 47% increase in the number of mobile TAN transactions in 2012. This underscores the popularity of mTAN transactions, a processing method for which consumers a sent a personal, time-limited and one-time-valid code to their cellphone and use this code for authentication online.
“Payment transactions must be safe, reliable and fast,” explains Gerald Tauchner, CEO of DIMOCO, adding: “We are happy to be able to support financial institutes with our mTAN product. In the second half-year 2012 almost twice as many mTANs were sent via our infrastructure.”
Web-based applications in the financial sector require secure 2-way authentications, DIMOCO explains. Using the mTAN service, consumers request the mTAN via the online banking website, receive it promptly via text message on their cell phone and then enter the code for their transaction on the Web. The service is simple and extremely secure.
