SMS-based authentication tokens,
according to security company RSA.
The tokens are designed to complement
username and password log-in checks by
requiring users to validate payments with unique numerical codes, in this instance
sent by SMS.
It is becoming more popular, and the
Commonwealth Bank of Australia claims
to have 80 per cent of its customer base
using tokens to validate third-party payments via SMS or through safer
handheld token-number generators. The
bank isn't forcing customers to use it,
but those who don't will not be
permitted to carry out high-risk
transactions over NetBank. RSA said in a 2011 predictions report that sending
tokens via SMS will make phones a
target.
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