Secure tokens in the post
Australia Post is investigating second factor authentication technology, such as tokens, for its online payment services, Post Billpay. Australia Post's processed 171 million Post Billpay transactions in 2003, and has 511 registered bill payment partners, 285 of which offer payment over the internet. A Post spokeswoman confirmed Australia Post was speaking with banks about improved security measures. National Australia Bank fraud solutions head Phillip Diprose said Australia Post was talking to the bank about the possibility of supplying tokens for authentication of online transactions. NAB itself is piloting SMS password technology to authenticate online banking transactions.