QR codes authenticate online banking transactions at Rabobank

payment fraudulent qr code

These quick response codes will now be used to boost the data and mobile security it provides.

Rabobank has announced that it is enhancing the security that it provides for its online banking experience trough the implementation of Vasco Data Security technology, which uses high definition QR codes for authentication of customers that use their web based services.

Central to this effort is the Rabo Scanner, which uses a color display and embedded camera.

That device is used for capturing the QR codes that are displayed on the computer screen, smartphone, or tablet screens. Through the use of the Rabo Scanner, the customer gains access to details of what Rabobank has determined to be an amount that has been requested to be paid by the customer to a payee. The information is accessed in that way because, according to Vasco, it is completely encrypted into the quick response code and as a result it cannot be replicated or altered by a hacker.

The QR codes are designed to keep transactions authentic and provide the most accurate form of confirmation.

qr codes mobile paymentsThe Rabo Scanner device is a form of Vasco Digipass Authenticator hardware. It employs CrontoSign technology, which is a tech that was developed by a UK based company called Cronto, which had been acquired by Vasco in 2013. The CrontoSign technology mitigates the risk, which is rapidly rising nowadays, of man in the middle attacks and other forms of banking threats such as malware.

Through the use of this tech, both the bank and the customer are provided with added assurance that the instructions for making a payment remain unaltered by unauthorized thirdparties, says Vasco.

According to the marketing personal and private banking head at Rabobank, Marielle Lichtenberg, “We are constantly looking for new methods to provide our customers with the convenience of conducting online banking transactions with simplicity and safety.”

QR codes are being used by an increasing number of organizations for purposes of authentication. Verizon recently made an announcement that it would be employing quick response codes for this purpose, though using them in a notably different way than Rabobank.

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