October is Cybersecurity Awareness Month, which aims to raise awareness about the importance of cybersecurity and ensures the public has the resources they need to be safer and more secure online. The Cybersecurity & Infrastructure Security Agency (CISA) and National Cyber Security Alliance (NCSA) encourages individuals and organizations to own their role in protecting their part of cyberspace, stressing personal accountability and the importance of taking proactive steps to enhance cybersecurity.
Fraud attempts continue to rise globally, across all industries. According to the NCSA, there is a hacker attack every 39 seconds. To protect users from fraudulent access, many technology companies and app-makers are providing multifactor authentication (MFA) that requires users to authenticate their identity over multiple devices.
Multifactor authentication is an especially important feature in the banking industry and provides additional safety measures against common security threats such as phishing attacks and unauthorized access.
PayQuicker provides the highest level of security for its clients and account holders. All PayQuicker account holders have the ability to add an additional layer of security to help keep their funds secure with our two-step verification (MFA) feature. With two-step verification, a password alone is not enough for an unauthorized person to log into a PayQuicker account. This security enhancement requires account holders to enter their password and approve a login request from their mobile device to successfully login to their account. This minimizes the risk of unauthorized access to the account and helps to prevent potential fraud.
For the enhanced protection of account holders, PayQuicker is announcing plans to require two-step verification for access to accounts beginning November 1st, 2021.
Learn more about PayQuicker’s two-step verification security feature below.
What is two-step verification?
Two-step verification is a security enhancement that requires the account holder to enter both a password and approve the login request on a mobile device when logging in to the payment account to ensure authorized use.
Why should two-step verification be enabled?
Two-step verification is a standard security feature in the banking industry and provides additional safety measures against common security threats such as phishing attacks and unauthorized account access. It adds an additional layer of security to the payment account to keep funds secure. It is especially important to enable two-step verification if your identity has been compromised in the past.
What is needed to enable two-step verification?
To enable two-step verification, a PayQuicker account holder needs an internet browser to access their payment account, a mobile phone, and the Authy app. Authy is a free authentication mobile app that can be used on Apple or Android devices. Authy sends login requests to a user’s mobile device that must be approved to access the account.
Is two-step verification required?
Although enabling two-step verification is not required at this time, PayQuicker is announcing two-step verification will be required starting November 1, 2021 as it is an important tool for account holders to protect their funds from potential security threats.