How do FSP’s get the right balance between the need for strong security and the customers requirement for ease of use – often at odds with each other. 

Not only is it a financial risk but a reputational risk of runaway fraud. If we make it too complex the customer will run away and seek an alternative payment mechanism and or service provider.

The consumer needs to be able to trust the bank but if it is too complicated the consumer will find an alternative service provider. 

Duty of care as a consumer to do the following:

Not to share the pin number

Banks need to educate the consumer.

Methods of authentication will evolve and biometrics will become more widely used. Right now the one method of authentication that is tried tested and trusted in every corner of the globe is pin. 

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