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
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that’s no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, will explore how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He wi...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
In the enterprise today, connected IoT devices are everywhere – both inside and outside corporate environments. The need to identify, manage, control and secure a quickly growing web of connections and outside devices is making the already challenging task of security even more important, and onerous. In his session at @ThingsExpo, Rich Boyer, CISO and Chief Architect for Security at NTT i3, discussed new ways of thinking and the approaches needed to address the emerging challenges of security i...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, will discuss th...
“Why didn’t testing catch this” must become “How did this make it to testing?” Traditional quality teams are the crutch and excuse keeping organizations from making the necessary investment in people, process, and technology to accelerate test automation. Just like societies that did not build waterways because the labor to keep carrying the water was so cheap, we have created disincentives to automate. In her session at @DevOpsSummit at 20th Cloud Expo, Anne Hungate, President of Daring System...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
From 2013, NTT Communications has been providing cPaaS service, SkyWay. Its customer’s expectations for leveraging WebRTC technology are not only typical real-time communication use cases such as Web conference, remote education, but also IoT use cases such as remote camera monitoring, smart-glass, and robotic. Because of this, NTT Communications has numerous IoT business use-cases that its customers are developing on top of PaaS. WebRTC will lead IoT businesses to be more innovative and address...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, d...
Given the popularity of the containers, further investment in the telco/cable industry is needed to transition existing VM-based solutions to containerized cloud native deployments. The networking architecture of the solution isolates the network traffic into different network planes (e.g., management, control, and media). This naturally makes support for multiple interfaces in container orchestration engines an indispensable requirement.
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, discussed the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insights from the vast t...
Recently, IoT seems emerging as a solution vehicle for data analytics on real-world scenarios from setting a room temperature setting to predicting a component failure of an aircraft. Compared with developing an application or deploying a cloud service, is an IoT solution unique? If so, how? How does a typical IoT solution architecture consist? And what are the essential components and how are they relevant to each other? How does the security play out? What are the best practices in formulating...