FIDO2-certified LoginID secures new investment from Visa

By Pavithra R

LoginID, a FIDO-certified authentication provider, has announced securing additional investment from Visa on the heels of its $6M seed round from veteran payment and fintech entrepreneurs. The investment amount from Visa is undisclosed.

Customers are readily accepting the use of biometrics to make payments and other transactions in a secure and convenient way. Visa recognizes that strong authentication solutions from companies like LoginID help promote its vision to improve integrity around payments both for reducing fraud and helping merchants meet global regulatory and compliance demands.

“Visa recognizes its role in promoting a secure payment experience for consumers and a frictionless transaction processing for merchants. Together, we are helping companies integrate and scale strong authentication at low cost, while ensuring compliance with PSD2 and GDPR regulations,” said Simon Law, CEO of LoginID.

LoginID provides a wide range of APIs and SDKs giving companies the ability to easily integrate FIDO-certified authentication to any website, application or e-commerce, or banking brand swiftly. This level of authentication is usually complicated and time-consuming to integrate.

“Visa has earned the trust of consumers, financial institutions and merchants over the past sixty years to become the world leader in digital payments by integrating payment innovation with security. Biometric technologies offer greater convenience and stronger security, and are the gold standard for online authentication. Visa’s investment and continued partnership with LoginID will help deliver innovative solutions that will improve convenience and payment security,” said Melissa McSherry, Senior Vice President, Global Data, Security and Identity Products at Visa.

Founded in 2019, LoginID is a San Mateo/Toronto based company focused on bridging the gap between authenticating users and securing their information. The company’s vision is to be the global leader in protecting user identity, providing users secure control over personal information.