Two-Factor Authentication in Payments

Two-factor authentication (also known as two-step verification or two-factor authentication) is a security feature used to increase the level of protection you have when logging in to your online accounts. It usually requires you to provide additional information, such as a password, along with the userid and password that are commonly used for online services. Two-factor authentication makes it harder for an attacker to access your account by forcing them to take additional actions. For example, they could try and reset your password through phishing links or asking for the answer to another question instead of using Google Chrome extension How To Prevent phishers from asking for passwords. There are different types of two factor options available depending on the type of service you use. Some banks offer their customers mobile phone number as an extra layer of security while others use text messages or emails as well. Below we show you how two-factor authentication works and what options are available from different services:

How Does Two-Factor Authentication Work?

Two-factor authentication works in a similar way to single factor authentication. For example, you provide your username and password when logging into your online accounts. In addition, you receive a one-time pin code via SMS or a token via email to complete the log-in process. Two-factor authentication is useful for two reasons. The first is that it increases the security of your account. If an attacker has access to your password and username, they also have access to your recovery email address. However with two-factor authentication, an attacker only has access to the recovery code. The second reason why two-factor authentication is used is to make it harder for attackers to impersonate you. If an attacker has access to both your userid and password, they can use this info to login to your account and make changes to the account. With two-factor authentication, the attacker needs both the password and the recovery code to log into your account.

Two-Factor Authentication Options

There are many different ways to enable two-factor authentication. Below we have listed some of the most commonly used services and what extra layers of protection they offer.

- Google Authenticator: This mobile app is used to generate one-time PIN codes for logging in to your online accounts via mobile apps and websites. It also helps confirm that the login is coming from your device and not from an attacker. - Duo Security: This app is used to send one-time codes to your mobile phone.

- Authy: This app is used to provide two-factor authentication for email account. - Microsoft Authenticator: This app is used to create one-time passwords for logging into your Windows devices.

When Should You Use Two-Factor Authentication?

As we discussed above, two-factor authentication can be used to increase the level of security of your account. However, it is also useful for keeping your account safe from attackers. If an attacker gets access to your password and userid, they can try to access your account and change the password. However, with two-factor authentication, the attacker will get only a code that they cannot use to access your account. To solve this, you can change your password and reset your password. For example, if you use a weak password, an attacker can try to log into your account or change the password of your account. When you enable two-factor authentication, the attacker will not be able to log into your account without receiving the code.


Today, the threat landscape is constantly changing. New attacks are being released every day by hackers and online fraudsters. Therefore, it is important to use all available layers of protection. With two-factor authentication, you can make your online accounts even more secure. At the same time, you can protect yourself from phishing attacks and impersonation by logging into your accounts only with an authentic device that uses an authentic userid. Two-factor authentication can be a useful tool in your online security arsenal.