Online shopping will not be slower due to two-factor authentication

Online bank card payment will not be noticeably slower due to the mandatory introduction of two-factor authentication from September 14, as the bank will send a text message containing the code in real time, Hungary’s cyber coordinator told M1 news channel on Friday.

Rajnai Zoltán said that the two-factor authentication is being introduced by the European Union for secure online shopping, as Internet banking fraud has increased enormously worldwide.

The provision does not require contracts to be modified, because the online shopping process remains unchanged, he added. (MTI)