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E-banking authentication tokens coming soon?

HSBC (opens in new tab) has quietly struck a deal with Vasco (opens in new tab) for the supply for user authentication tokens in the Far East and Asia. The gameplan is to issue most of the bank's customers with a Digipass authentication token (opens in new tab)for use on e-banking across the Internet.

The big question is when the bank will issued Digipass tokens to all its customers worldwide.

Probably when online fraud starts to bite - and that date may not be far away, especially now that signature cards fraud is about to take a back seat thanks to chip and PIN (opens in new tab)technology.

According to Vasco, HSBC Hong Kong started using Digipass during the second quarter of last year, since when it has issued around 900,000 of the authentication devices to its customers.

HSBC has also initiated Digipass usage in mainland China, Singapore, Indonesia, South Korea, Malaysia, Sri Lanka, Brunei, Thailand, New Zealand and Australia.

Two models of the Digipass are being used by customers, the Digipass GO3 (opens in new tab), and the Digipass 260 (opens in new tab).

The Digipass GO3 is a lightweight, low cost strong user authentication token, especially designed for the large volume banking market. GO3 is extremely easy to use - with a simple touch of a button, the customer generates a unique one-time password.

The Digipass 260, meanwhile, is a portable, PIN protected device offering one-time password and e-signature facilities...