Nok Nok Labs brings FIDO authentication to digital ID card for online services and payments
Nok Nok Labs has formed a strategic collaborative partnership with CompoSecure Holdings, a premium financial payments card provider to develop digital ID card for online activity and payments, based on the FIDO protocol.
CompoSecure provides the Arculus platform to help make cryptocurrency trading simpler and more secure for consumers without high-tech backgrounds, and Nok Nok’s solution will provide strong and easy-to-use authentication, the company announcement says, using biometrics or a physical token as a second factor. The Arculus platform is currently in beta testing.
The metal digital ID card the companies plan to produce will act as an authentication method for any digital service or device, according to the announcement, enabling users to digitize their payment or credit card to perform digital transactions. In addition to payments, online banking and cryptocurrency use cases, the companies see online gaming, gambling, and digital identity use cases for the card.
The Arculus Key card provides air-gapped storage, and connects to the Arculus Wallet app via encrypted NFC.
“More and more people are transacting online because they are convenience-focused and their adoption of digital banking highlights their comfort with digital tools,” states Adam Lowe, chief innovation officer of CompoSecure. “This new technology platform will ensure that you, and only you, are authorized to make a transaction with CompoSecure’s metal cards, with a simple and secure action, such as swiping a finger, entering a PIN and tapping your card to your phone for an NFC-encrypted transaction.”
CompoSecure reached a merger agreement with special purpose acquisition company Roman DBDR Tech Acquisition Corp earlier this year.
“We see this collaboration with CompoSecure as a game-changer for Nok Nok, bringing our vision of greater security and a better user experience to every consumer around the world,” says Nok Nok CEO Phillip Dunkelberger. “While securing payments will be a key focus, we will work with CompoSecure in other key areas such as eGaming, cryptocurrency exchanges, e-passports and more. From daily use as a credit card to connecting securely to a variety of e-commerce transactions, consumers will have a trusted method for online and offline activities.”