Inside Secure Introduces HCE Payment Security Updates at Mobile World Congress 2015
Proxama to license INSIDE’s award winning Matrix HCE SDK to provide “off-the-shelf” solutions for banks who want to offer HCE cloud-based payments
Aix-en-Provence, France, February 26, 2014 – Inside Secure (Euronext Paris: INSD), a leader in embedded security solutions for mobile and connected devices, today announced it will be revealing updates around its award winning products for Host Card Emulation (HCE) payments at Mobile World Congress 2015. As part of this announcement, Proxama will leverage INSIDE’s technology to release a new product for banks that are looking for “off the shelf” solutions to offer HCE cloud-based payments for leading payment schemes. In addition, INSIDE will present some key updates to its robust HCE payment solution to help solve the problem of integrating multiple technologies, including cloud systems, mobile applications, mobile application security, credential management and certification.
INSIDE now boasts the industry’s most secure – and easy to deploy - HCE payment solutions on the market, by utilizing a unique combination of technologies and is now being leveraged by innovative companies like Proxama to bring highly secure, ready to use HCE solutions to the market quickly.
“We are thrilled to be leveraging Inside Secure’s proven technology and expertise around HCE payment to support Proxama’s Digital Enablement Platform for HCE,” said Mike Woods, Payments CEO of Proxama. The combination of Inside Secure’s vast knowledge of payment and software security with Proxama’s recognized competencies on platform management is a powerful combination for the HCE payment market.”
Although Google adopted HCE in 2013, payment apps based on this model were immediately scrutinized as vulnerable to attack because software security and new payment innovations allow secure data to be stored in a software application. As a result of the acquisition of Metaforic, Inside Secure has brought together the necessary technologies and expertise to provide the first commercial security tools for application security and critical customer data protection.
When licensed by companies like Proxama, the solution gives issuers and banks greater flexibility in deployment by leveraging cloud and software technology to work with all potential players for secure mobile payments using Near Field Communication (NFC), QR code and other technologies.
Benefits of Inside Secure’s comprehensive HCE payment solution include:
- Faster to market
- Ready to deploy operational
- Lower risk to customer brand due to high levels of security
- Pre-tested and pre-certified
- Support for multiple payment networks
As an industry first, INSIDE’s MatrixHCE product implements Dynamic White-box cryptography (WBC), a new advance on legacy techniques against attacks on white box environments. INSIDE’s WBC technology clearly leapfrogs competition by automating Whitebox customization, and enables life-cycle & dynamic key management functionality.
“With a full range of embedded security solutions and unmatched expertise, Inside Secure is uniquely positioned to help card schemes, issuers and app developers secure their business models, whether using newer software-based secure element solutions,” said Remy de Tonnac, CEO of Inside Secure. “It’s satisfying to see real world deployments of highly secure HCE payments beginning to roll out, knowing this is just a starting point for the broader adoption of secure mobile payments.”
Visit INSIDE at Mobile World Congress to learn and see how Inside Secure has taken the lead in HCE payment development and is fulfilling consumer demands for mobile payment options by bringing easy, secure payments to market throughout the world.
Inside Secure (recently named 2014 European Frost & Sullivan Company of the Year) is the only market player simultaneously offering hardware-only-based solutions (based on secure microcontrollers), software-only-based solutions, and a combination of both hardware and software, in addition to a broad intellectual property solutions portfolio, thereby addressing a full range of security solutions.
About Mobile World Congress 2015
The mobile communications revolution is driving the world’s major technology breakthroughs. From wearable devices to connected cars and homes, mobile technology is at the heart of worldwide innovation. As an industry, we are connecting billions of people to the transformative power of the Internet and mobilising every device we use in our daily lives.
In short, we’re on The Edge of Innovation, and the possibilities are endless. The 2015 GSMA Mobile World Congress will convene industry leaders, visionaries and innovators to explore the trends that will shape mobile in the years ahead.
Proxama PLC (LSE: PROX) is an International mobile proximity commerce and payment solutions company.
Proxama provides end to end digital solutions to banks and card issuers to securely transition their card portfolio onto mobile for Near Field Communication (NFC) contactless payments as well as solutions for EMV enablement, Electronic PIN Delivery, tokenization and card issuance management.
Our award-winning mobile proximity marketing platform, TapPoint®, also help brands to connect physical and digital assets via mobile to increase consumer engagement, retail sales and loyalty across a network of high footfall locations. For more information, visit: http://www.proxama.com
About Inside Secure
Inside Secure (Euronext Paris FR0010291245 – INSD) provides comprehensive embedded security solutions. World-leading companies rely on Inside Secure’s mobile security and secure transactions offerings to protect critical assets including connected devices, content, services, identity and transactions. Unmatched security expertise combined witha comprehensive range of IP, semiconductors, software and associated services gives Inside Secure customers a single source for advanced solutions and superior investment protection. For more information, visit http://www.insidesecure.com
# # #
+33 (0) 4 42 37 02 37