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secupay Payments Glossary

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2-factor authentication

2-factor authentication or 2FA for short: Two-tier security method for protecting bank, card, or customer accounts from unauthorized access. The 2FA process combines at least two independent factors to verify identity, namely

  • Knowledge factor, e.g. passwords, PINs or answers to secret questions.
  • Possession factor: for example, smartphone, smartwatch, card, token. Possession factor: for example, smartphone, smartwatch, card, Possession factor: for example, smartphone, smartwatch, card, token..
  • Biometrics factor: for example, fingerprints, facial recognition, iris scan, signature.

To perform a successful 2FA, users must therefore legitimize themselves twice. Example: Entering a password (knowledge) plus confirmation SMS on a registered cell phone (possession).