Business Wire

As a Global Partner of Manchester City, Truxtun Capital Officially Launches the Wega City Supporter’s Card - the World’s First Commercial Deployment of a FIDO Certified Payment Card

Share

With its Wega 3DSA 2.0 product, Truxtun Capital has reached an unachieved milestone in the payment industry by releasing the first broadly available FIDO® Certified, multi-factor strong authentication payment solution for consumers. The Geneva-based Fintech uniquely combines several technologies in a mobile app, City Wega, available now on iOS.

Truxtun Capital’s exclusive white label technology solution is leveraging European and global security requirements with a unique online on-boarding and identity validation process. The Wega payment solution developed by Truxtun Capital provides customers with mobile, virtual and physical card products in a simple user experience. Each customer takes control of their own digital identity and security profile on a mobile phone, while activating security credentials such as personalised codes, customer-selected biometrics, and a FIDO, EMV and Mastercard-compliant secure payment card.

Strong customer authentication and secure management of customer identity combats payment fraud, and provides more trust in financial services.

In giving the customer full control of authentication methods, this solution, while reducing fraud, helps banks and eFinance institutions to increase their overall service value and usage. Typical customer usage includes secure access to financial applications and services, access to bank account balances, card to card transfers, third party payments and much more.

With Truxtun Capital’s white label technology, Financial Service Providers can leverage identity profiles and trusted strong authentication in order to ensure safe message and document deliveries to their customers. Each trusted identity account encloses a secure data repository (electronic safe box) used to store customers’ personal and financial documentation, including financial statements, payment slips, transfer notices, and approved customer confirmations.

The Wega City Supporter’s Card is Available Now

This state-of-the-art payment method is currently available through Truxtun Capital’s Wega partnership with Manchester City Football Club. Fans and interested parties alike can download the iOS City Wega app, available in the UK, and order a Wega City Supporter’s Card fully equipped with all of the specs listed above, including patented Acoustic Technology. Wega 3DSA 2.0’s patented payment card with Acoustic technology is a cutting edge solution to prove the card is present at the time of any digital transaction by using a secret element issued by the card itself, a dynamic and different set of notes delivered by a press of the Mastercard logo on the card. The sound is unique every single time and is accepted through the Wega mobile app, to provide proof of approval of purchase, almost exactly like giving the card itself at the moment of purchase. This feature is currently being used as an option for logging into the app, but is earmarked for future use in completing and validating purchases.

Truxtun’s Wega Card is FIDO Certified, which means it has been validated as complying with FIDO specifications for simpler and cryptographically secure consumer authentication.

Truxtun Capital’s next steps

Truxtun Capital is conducting a continuous market evolution watch, and systematic innovation research in various fields such as:

  • 3DS Secure friction-less authentication, and proven customer confirmation documents
  • Convergence between virtual and physical world authentication solutions, in a search to optimise biometric usage and its components

Truxtun Capital's groundbreaking field and intelligence analysis are being achieved with the sole purpose of a transparent technology strategy in identity management and financial information security.

Patrick Moynier, President of Truxtun Capital said:

“We are very pleased that the Wega City Supporter’s Card, already well in advance of the requirement to adapt to new banking regulations introduced in Europe for strong customer authentication, fully meets all standards and new requirements today, here and now, offering a unique product to all regulatory requirements of PSD2 and the RTS (Regulatory Technical Standards), eIDAS and GDPR.”

Andrew Shikiar, Chief Marketing Officer of the FIDO Alliance, said:

“Truxtun’s Acoustic technology introduces an innovative way to provide simpler and stronger FIDO Authentication to consumers making digital transactions. With the Wega City Supporter’s Card now available, City fans will benefit from the strong security, privacy and convenience that FIDO Authentication provides.”

ENDS

About Truxtun Capital

Truxtun Capital has developed a state-of-the-art financial payment solution and digital platform, providing the most robust and secure payment method on the market. Through the City Wega app, Truxtun Capital offers a FIDO Certified Mastercard with patented Acoustic Technology, and advanced security features which include biometric verifications - making it virtually impossible for anyone to access your account other than you.

About the FIDO Alliance

The FIDO (Fast Identity Online) Alliance, fidoalliance.org was formed in July 2012 to address the lack of interoperability among strong authentication technologies, and remedy the problems users face with creating and remembering multiple usernames and passwords. The FIDO Alliance is changing the nature of authentication with standards for simpler, stronger authentication that define an open, scalable, interoperable set of mechanisms that reduce reliance on passwords. FIDO Authentication is stronger, more private, and easier to use when authenticating to online services.

Contact information

Nikhita Dunphy, nikhita.dunphy@truxtuncapital.com, +33 7 67 69 44 72
www.truxtuncapital.com
www.wegamc.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Velodyne Shows Velarray Lidar in Sleek Car Designs at IAA 2019 Conference14.9.2019 19:39:00 CESTPress release

Velodyne Lidar, Inc. (Hall 8.0, Booth A13) is showcasing the pristine integration of Velarray lidar sensors into consumer vehicles to make currently available, high-end electric vehicles safer at the IAA 2019 Conference. Velodyne has addressed the market need for lidar technology that enables high-level Advanced Driver Assistance Systems (ADAS) for safe navigation and collision avoidance, all within a compact form factor. The lidar is situated behind the vehicle’s windshield for streamlined, flawless integration. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190914005023/en/ Can you see the lidar? The Velarray is embedded in a sleek electric car at IAA 2019 (Hall 8.0, Booth A13). (Photo: Velodyne Lidar) Velodyne booth visitors can see how the Velodyne Velarray™ sensors are beautifully integrated into sleek, high-end vehicles, maintaining their aerodynamic design. The Velarray’s small, embeddable form factor is a powerful so

Insurance Leaders and Visa Digitize Claims Payouts for Individuals and Businesses When They Need It Most13.9.2019 14:37:00 CESTPress release

Emergencies like car collisions or natural disasters come when people least expect them, leaving individuals unprepared to complete insurance forms, confirm claim estimates, and pay repair shop and medical expenses. During these times, quick access to funds is critical. Visa is committed to working with innovative companies in the insurance industry to help turn outdated and time-consuming processes associated with insurance claim payouts into near real-time1 access to payments when individuals, families and businesses need them the most. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190913005323/en/ Visa Direct powers real-time insurance payouts, providing people access to their funds when they need it most. (Graphic: Business Wire) “Visa believes that money shouldn’t be a stressor in moments of crisis and waiting on average six to 10 days to access the money from insurance checks, is outdated, frustrating and costly to th

Wipro Positioned as a Leader in the IDC MarketScape for Utilities Customer Experience, Worldwide13.9.2019 12:55:00 CESTPress release

Wipro Limited (NYSE: WIT) (BSE: 507685) (NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has been positioned as a leader in the IDC MarketScape: Worldwide Professional Services Firms for Utilities Customer Experience 2019 Vendor Assessment (doc #US42713318, July 2019). Wipro has been recognised for key strengths including provider of fast as-a-service implementations of IT systems, for Utilities and cost-effective quality of service delivery models. The study evaluated the Utilities Customer Experience (CX) transformation and digital capabilities of 15 service providers and mapped them based on strategies, capability and market impact related parameters. Key Highlights include- The report notes Wipro’s internal program aimed at comprehensively addressing the challenges faced by utilities. Selected employees are assigned to one of six "domain tribes" — customer services, network operations, new energy servic

Jefferies to Hold Global Relief Day in Support of Hurricane Relief in the Bahamas, Monday, September 1613.9.2019 12:00:00 CESTPress release

Jefferies confirmed that the firm’s global trading day for Hurricane Dorian relief efforts in the Bahamas will be held on Monday, September 16. Jefferies will offer investors around the world the opportunity to join efforts to assist those affected by the devastation of this event by trading with Jefferies. As previously announced, Jefferies will donate all net trading commissions on Monday, September 16, from U.S., European and Asia equity, fixed income and foreign exchange trading. In addition, Jefferies will donate an additional $1 million itself, and all 3,656 employees worldwide will be given the opportunity to personally donate to the relief effort. These contributions will be allocated to a series of charities with the goal of quickly getting funds to relief efforts directly involved in the rescue and recovery efforts. Rich Handler, Chairman and Chief Executive Officer of Jefferies, and Brian Friedman, Chairman of the Executive Committee, commented: "All of us at Jefferies are d

 Knopp Biosciences to Present Data Characterizing Its Kv7 Technology Platform’s Potential for Delivering Precision Medicines to Treat Diverse Neurological and Smooth Muscle Diseases13.9.2019 10:00:00 CESTPress release

Knopp Biosciences LLC today reports data demonstrating that compound subgroups from its proprietary library of potassium-channel modulators selectively target Kv7 channel subtypes associated with a wide range of neurological and smooth muscle diseases. The data is being presented at the International Kv7 Channels Symposium 2019 in Naples, Italy. Presentation Title: The Re-emergence of Kv7 Drug Discovery Presenter: Michael Bozik, M.D., CEO, Knopp Biosciences Date & Time: September 13, 4:35 pm CEST Michael Bozik, M.D., Chief Executive Officer of Knopp, will present the data derived from the Company’s proprietary library of more than 3,000 novel compounds directed to modulating the Kv7 channel, which regulates the flow of potassium ions across cell membranes. The data demonstrate that specific subgroups of Kv7 compounds selectively modulate different Kv7 channel subtypes across ranges of channel activation and inhibition, enabling selection of compounds capable of targeting neurological d

PenSam Selects Moody’s Analytics Economic Scenario Generator to Support New Risk Modeling Framework13.9.2019 09:00:00 CESTPress release

Moody’s Analytics, a global provider of financial intelligence, announced today that its software has been selected by PenSam, one of Denmark’s leading labor market pension and insurance firms. PenSam will be using the Moody’s Analytics Economic Scenario Generator (ESG) for actuarial liability valuations, risk management, strategic asset allocation, and asset and liability management (ALM). The Moody’s Analytics ESG is an award-winning simulation framework which clients deploy in areas such as actuarial reporting, risk and capital calculation and analysis, and investment and ALM analysis. PenSam will also take advantage of the Moody’s Analytics Automation Module, which allows insurers to streamline their modeling processes by automating model set-up, execution, and validation, in turn reducing production time and cost. “The Danish pensions and insurance market is going through a period of change, with insurance companies across the country reassessing their risk management frameworks a