New MX™ Merchant Value-Add: Enhanced Security with Two-Factor Authentication and Self-Serve Bank Updates via Plaid
Priority Payment Systems is committed to ensuring our users’ confidential information and sensitive data are protected from fraud and online breach, so as part of our ongoing work to keep our users safe, we’ve released a new security enhancement to the MX™ Merchant Platform that provides our partners with a more secure user experience through two-factor authentication.
What is two-factor authentication and why are we enabling it?
Two-factor authentication (also known as two-step verification) is an authentication mechanism that double-checks to verify that a user’s identity is legitimate when logging into an online system. Specifically, two factor authentication helps to protect MX™ Merchant users’ sensitive information and data that’s stored within Priority’s processing platform.
When users sign into their account, they are prompted to authenticate with a username and a password—that’s the first verification layer.
Two-factor authentication works as an extra step in the process—a second security layer—that will reconfirm users’ identity using the MX™ Merchant 2-step verification tool. Upon setting up user notification preferences, the user will receive a verification code either via text message or email, and they will be prompted to enter the code in order to successfully login to MX™ Merchant.
What is changing within MX™ Merchant?
MX™ Merchant Admin users will go through two-factor authentication each time they login to the MX™ platform, protecting their account from online hackers and theft.
All other user levels will only be required to go through the two-factor authentication when they login from a new location (IP Address).
Update Banking Details with Plaid
Released in tandem with the new 2-factor security feature, Priority also launched the Plaid enhancement. Plaid works behind the scenes, allowing users to self-serve and update their banking information 24 hours a day from within MX™ Merchant. Users save valuable time, no longer being required to call into a Support team to request a bank change.
Together, Plaid and 2-Step Authentication give users the flexibility to update their account details, while providing an extra layer of protection for sensitive data.
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