Tyfone Inc. has added Acculynk's Payzur person-to-person payment capability to the mobile banking application it supports at Boulder Valley Credit Union.
The credit union's members can now enter a PIN to approve a real-time P2P payment to any e-mail address or mobile phone number, the Portland, Ore.-based secure mobile ID provider states in an Oct. 7 press release. Consumers do not need to enroll ahead of time.
"Working with Tyfone on the inaugural in-app mobile deployment is a major milestone for Payzur," Sandra Chestnutt, general manager of Payzur for Acculynk, states in the release.
The software allows consumers to send funds from their bank accounts through mobile- or Web-initiated transactions when using the Acculynk's PaySecure online graphic PIN pad.
The credit union has locations in the Boulder, Colo. region.
Tyfone also announced that CoVantage Credit Union is testing its branded Connected Smart Card technology to provide extra security for the financial institution's business banking members. The technology supports smart-card chips in different form factors, Tyfone says.
The CSC allows secure point-to-point identity authentication, even through public Wi-Fi networks, Tyfone says.
The technology enables storage of digital certificates on the chip for two-sided "request-challenge-response" to every authentication request, Tyfone says.
CoVantage Credit Union, with locations in north central Wisconsin and the upper peninsula of Michigan, is testing the CSC chip technology as an alternative to biometrics, Tyfone says.
"We originally chose Tyfone as our mobile banking provider because, unlike any other vendor, their IP and know-how adds smart card-based security to any device, while also supporting the emerging adoption of smart card-based EMV for payments in the U.S.," Robert Van Abel, chief information officer at CoVantage, states in the release.
During the testing period, the CSC chip will be part of Tyfone's SideSafe microSD cards for Android mobile phones. CoVantage employees and certain business customers will be the first to use the CSC technology, Tyfone says.
Future uses may include Tyfone's SideKey key chain or other hidden and/or wearable devices that will work with any mobile phone, tablet or PC, Tyfone says. Tyfone may support Near Field Communication, Bluetooth and other mobile technology.