FOR IMMEDIATE RELEASE:
Taproot Contributes to US Mobile Payment Security Standard
Collaborates with Boston Federal Reserve Bank on New National Standard
Saint Paul, MN, November 15, 2021 – Under leadership of the Boston Federal Reserve Bank, Taproot Security helped draft a US standard to secure mobile financial services. The new X9.134-2 standard was approved by ASC X9 and the American National Standards Institute (ANSI) this year, and is now publicly available through the ANSI online store.
Susan Pandy of the Boston Fed noted in Coming Soon to the U.S.: A National Standard for Mobile Financial Services that "the risks associated with a consumer payment experience differ when using a wireless mobile device instead of a physical payment card at the point of purchase and require a different assessment of risk management practices."
Taproot founder Mike McCormick said "approval and publication of X9.134-2 is a milestone for all communities involved in mobile financial services, including phone manufacturers, telecom providers, financial institutions, app developers, and consumers. Mobile payments are growing rapidly in stores, banks, and gas stations. We want those transactions to be safe and secure."
About Taproot Security
Taproot Security is an information security consulting firm advising industry and government on cyber issues and policy. For more information, please visit http://www.taprootsecurity.com/.
To learn more about this announcement, please contact
Founder & President
Taproot Security, LLC
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