Welcome!

Blog Feed Post

Proxama and Cryptomathic Create Mobile Contactless Payment Solution Leveraging NFC Host Card Emulation

Enabling delivery of mobile payment and loyalty services without a secure element

London, UK - 20 February 2014: Proxama PLC (AIM: PROX), the global platform provider of mobile proximity marketing, mobile wallet and payment solutions, has partnered with Cryptomathic, a leading security provider, to launch a mobile contactless payment solution, called EMV Tokenised Transaction (EMV-TT). The solution leverages Host Card Emulation (HCE), taking away the reliance on a secure element and enabling contactless payments to be made in the same way as using a contactless card, securely, via any NFC mobile handset.

Previously, making contactless payments with a mobile device was dependent upon a local hardware based secure element chip, such as a SIM or embedded secure element. The new Proxama-Cryptomathic solution can be used to enable existing mobile applications with a new software-based security infrastructure that works across debit, credit, pre-paid and gift card schemes. It does not require any Point of Sale (POS) infrastructure changes to be made by merchants because it works with existing contactless payment terminals.

With EMV-TT, any card issuer can now launch a mobile contactless payment service without having to rely on a secure element provider or Trusted Service Manager (TSM), cutting down the complexity, cost and providing greater flexibility for value added services. As a standalone solution, EMV-TT leverages existing card issuance and authorisation systems and Proxama's TapPoint® service platform and mobile wallet SDKs.

EMV-TT has been also designed to enable a simple migration from the HCE to the standard Secure Element based approach or vice-versa should the bank or network operator wish to change its deployment or partner strategy in the future.

Neil Garner, CEO and founder, Proxama, comments: "We're seeing a lot of change in the payments industry and consumers are increasingly comfortable with card-based contactless payments, with huge appetite to use their smartphone more. The EMV-TT solution developed in partnership with Cryptomathic enables card issuers to offer mobile contactless as part of their existing service offering. We're very excited to be working with Cryptomathic as they are the Gold standard for EMV payment issuance and high security processing for many major financial services companies."

With more NFC devices rolling out every day and HCE available on the vast majority of Android devices running the latest OS, KitKat, the market opportunity for NFC payments is growing. We have designed the EMV-TT technology such that it seamlessly integrates with other mobile consumer engagement services delivered from the same TapPoint® platform."

Morten Landrock, EVP EMEA, Cryptomathic, comments: "Using EMV-TT, financial services providers can benefit from offering a simplified, secure payment method that is not reliant on hardware based technology. We also see this as an opportunity for mobile operators to leverage this new technology, and enhance existing SIM based security for payments and loyalty. Our experience in e-banking helped us understand what needed to be done to make EMV-TT secure enough for widespread use."

-Ends-

Notes to editor
Proxama and Crytomathic are both attending Mobile World Congress and available for briefing. Please contact Rocket Communications (contact details below) to arrange.

About Cryptomathic
Cryptomathic is one of the world's leading providers of security software solutions to businesses across a wide range of industry sectors, including banks, government, technology, cloud and mobile. With more than 25 years' experience, Cryptomathic provide systems for eBanking, PKI, ID & ePassport, card issuing, advanced key management and management cryptography.
http://www.cryptomathic.com

About Proxama
Proxama PLC is a global platform provider of mobile proximity marketing, mobile wallet and payment solutions. We connect physical and digital assets via mobile to increase consumer engagement, retail sales and loyalty. Proxama's customers are retailers, global brands, mobile network operators and financial institutions. http://www.proxama.com

Media Contact
Rocket Communications
Jo Ashford / Lawrie Benfield
Tel: 08453 707 024
Email: [email protected]

Source: RealWire

Read the original blog entry...

More Stories By RealWire News Distribution

RealWire is a global news release distribution service specialising in the online media. The RealWire approach focuses on delivering relevant content to the receivers of our client's news releases. As we know that it is only through delivering relevance, that influence can ever be achieved.

Latest Stories
"There is a huge interest in Kubernetes. People are now starting to use Kubernetes and implement it," stated Sebastian Scheele, co-founder of Loodse, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Providing secure, mobile access to sensitive data sets is a critical element in realizing the full potential of cloud computing. However, large data caches remain inaccessible to edge devices for reasons of security, size, format or limited viewing capabilities. Medical imaging, computer aided design and seismic interpretation are just a few examples of industries facing this challenge. Rather than fighting for incremental gains by pulling these datasets to edge devices, we need to embrace the i...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
In his session at DevOps Summit, Tapabrata Pal, Director of Enterprise Architecture at Capital One, will tell a story about how Capital One has embraced Agile and DevOps Security practices across the Enterprise – driven by Enterprise Architecture; bringing in Development, Operations and Information Security organizations together. Capital Ones DevOpsSec practice is based upon three "pillars" – Shift-Left, Automate Everything, Dashboard Everything. Within about three years, from 100% waterfall, C...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walked through how Octob...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and containers together help companies achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of Dev...
SYS-CON Events announced today that Catchpoint, a leading digital experience intelligence company, has been named “Silver Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Catchpoint Systems is a leading Digital Performance Analytics company that provides unparalleled insight into your customer-critical services to help you consistently deliver an amazing customer experience. Designed for digital business, C...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...