INSIDE Secure’s mobile payment solution now Visa Ready

INSIDE Secure announced that its mobile payments security solution has been approved by Visa Inc. for use in Visa Inc. territories.

Visa Ready is a cloud-based payments program and standards which extend mobile payment to devices without a secure element, such as for those devices supporting Host Card Emulation (HCE).

By securing a Visa Ready license, mobile payment companies are able to gain access to specifications and SDKs to implement Visa payWave for mobile.

MatrixHCE is a software-based banking and payment solution that protects sensitive data on mobile devices while allowing banks to actively market their brands.

The software allows mobile phones to be used as payment cards (credit, debit or prepaid) in the retail environment and supports a wide range of features including transaction logging, receipts, biometric authentication and token processing.

“INSIDE Secure is extremely pleased to receive functional Visa Ready approval for MatrixHCE, one of the first mobile payment solutions for financial institutions,” said Martin Bergenwall, EVP of INSIDE Secure’s mobile security division. “MatrixHCE not only meets the latest HCE standard, but it also incorporates potential future requirements including updatable whitebox cryptography to protect tokens, code and data.”

MatrixHCE will offer a range of features, including interlocking security that protects the application and account data, tamper-proofing that protects against malware attacks, dynamic White-box Cryptography (WBC) that enables full token processing by safeguarding all encryption keys, easy deployment across the Android ecosystem, and support for other leading payment networks.

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