Device Pairing: Login without TAN Verification

Oliver June 2020 Fintech Content Editor 4 min

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This probably has happened to you before: You are on your way to the next meeting and time is quickly running out. On the one hand you want to be able to access your account easily to keep track of your transactions at any time and anywhere. On the other hand you want to make sure that only you and all authorized persons have access to your business account. In the current times, top quality security and encryption is an important aspect of a successful business. To ensure exactly that, the EU has introduced the Payment Service Directive 2 (PSD2), which requires you to confirm your identity with two factors. This so-called two-factor authentication is intended to make digital payment transactions considerably more secure. In addition to the factor “knowledge” which can be confirmed by entering your password for example, an additional factor such as “possession” or “inherence” is required. You fulfil this second factor for instance by pairing your smartphone or by fingerprint verification. 

Up until now, we have sent you a TAN code via SMS to your registered phone number after you entered your correct login data. Although this contributes to an enormous increase in security, it causes frustration especially in time-critical situations as well as in places with bad cell phone coverage. Therefore, we can clearly understand why many of our Penta customers have asked for a different solution.

Now You Can Log in Even Faster

We are extremely excited to introduce one of the most requested features: By pairing your smartphone with your Penta account, you can now log in without verifying your log in with a TAN.

This allows you to log in to your Penta account even faster, for instance when you are on the way to your next meeting and have no time to input received TAN codes. You don’t have to worry about additional costs for an SMS if you are abroad or in places with bad cell phone coverage. All you need is to have a stable internet connection to log in quickly – anytime, anywhere.

However, you don’t have to compromise on security. You authenticate yourself with your login data and the ownership of your smartphone. This feature is called device pairing and fulfills all the requirements of PSD2 and ensures that only you can log in to your Penta business account.

How to Pair Your Smartphone

You can pair your smartphone with your Penta account in four simple steps: 

  1. Download the latest Penta app (iOS | Android)
  2. Go to the App settings and click on Device pairing.
  3. Follow the steps and pair your device.
  4. Done! You can now log in to your Penta account without providing a TAN.

Two-Factor Authentication for Your Online Card Payments

The two factors not only apply when logging into your Penta account securely, but also when making card payments at some online merchants. With the so-called 3D-Secure method, you also confirm your identity via two factors. You can choose whether you want to use a mobileTAN that you receive via SMS or whether you want to confirm the card payment via a push notification in the Penta app. In the last case, the device binding must be active. Find out more about the 3D-Secure procedure and your options for secure online payments with your Penta card here.

Shape the Future of Business Banking With Us

Our goal is to develop exactly the solutions and products that you really need. Have a look at our public Product Roadmap on Trello to find out which solutions we are currently working on or tell us which ones you are still missing. 

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