The Bank of Khanty-Mansiysk and OpenWay Debut MasterCard Mobile Authentication in Russia

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The Bank of Khanty-Mansiysk and OpenWay Debut MMA

The Bank of Khanty-Mansiysk, one of top 30 Russian banks, and OpenWay, the international vendor of WAY4 payment processing solutions, have launched a new service based on the MasterCard Mobile Authentication (MMA) technology. By subscribing to this service, the bank customers may use their mobile phone to generate one-time passwords for secure web-banking and e-commerce.

May 25, 2009

А WAY4 MMA calculator is a mobile application loaded to a cell phone. The calculator generates and displays one-time passwords. Such password lets the client access his sensitive data on the bank website. Once used, the password is no more valid, so fraudsters can’t benefit from stealing it.

“Internet fraud continues to increase nowadays, and web-banking requires enhanced protection. One-time passwords are more effective than the static ones. However, most security devices – special tokens, calculators – are too complicated for clients and costly for banks. There are also OTP-sms and OTP-cards – but they are not secure enough. Take a regular cell phone, add WAY4 MMA – and you have both simple, efficient and secure way to authenticate your customers”, explains Kirill Bulgakov, Deputy Director, OpenWay Russia.

"The MasterCard Mobile Authentication technology is already popular across the world. Today I congratulate our partners who brought secure and handy MMA-based solutions to MasterCard cardholders in Russia”, adds Andrey Tarusov, Vice President, MasterCard Europe.

The Bank of Khanty-Mansiysk

The Bank of Khanty-Mansiysk is a versatile crediting organization of federal significance, which has a diversified resource base and offers a full range of transactions in the financial market. It has 18 operating branch offices with 120 additional outlets and operational teller counters. Representative offices of the bank function in Prague (Check Republic) and Ekaterinburg.

http://www.khmb.ru/en/

OpenWay Group

OpenWay Group (www.openwaygroup.com) is a payment processing software vendor (rated as strong positive by Gartner, 2009*). Its WAY4 Card Issuing and Merchant Acquiring, Loan Management, Personalised Remote Banking, Payment Switch/Hub, Behaviour Loyalty and other payment solutions successfully operate at more than 90 banks, processing and telecom companies in Europe, US, Asia, the Middle East and Africa.

WAY4 is a customer-centric rule-driven environment for debit, credit and prepaid cards, deposits, loans, current accounts, mobile money and other financial products, for targeted marketing campaigns and personalised self-service via ATMs, kiosks, POS terminals, web, mobile banking and other channels.

WAY4 supports 24/7 high-speed processing on open platform clusters.

WAY4 solutions are SEPA-compliant, certified by MasterCard, Visa, AMEX, Diners Club, JCB, CUP, and PCI SSC (PA-DSS compliance).

* The report “MarketScope for Multiregional Card Management Software” by Kristin R. Moyer, 27.05.2009. The MarketScope is copyrighted 2009 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

http://www.openwaygroup.com

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The Bank of Khanty-Mansiysk and OpenWay Debut MMA

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