Resources / News / Fintech Futures: Trustonic first to land EMVCo Software-Based Mobile Payments certificate

Fintech Futures: Trustonic first to land EMVCo Software-Based Mobile Payments certificate

Mobile-Payments_1

Trustonic

Trustonic has become the first fintech to land EMVCo’s certificate for Software-Based Mobile Payments (SBMP). This means Trustonic’s trusted execution environment (TEE) solution – called Trustonic Application Protection (TAP) – is the first solution to allow developers to create mobile payments apps which have the same certified and trusted levels of security as the apps developed by payment monopoly players such as WeChat and AliPay.

“We’re democratising access to the TEE,” Trustonic’s product director Leo Machado tells FinTech Futures. “[Our solution] brings the capability [to create a secure mobile payments app] to literally anybody”. Machado estimates that Trustonic’s newly EMVCo-certified platform will make mobile app development for third parties around 50% cheaper and faster.

“Developers need to know that hardware no longer limits innovation,” says Trustonic

By building a payments app within a TEE, developers can guarantee that the code and data loaded inside it are protected and remain confidential. When Trustonic started out in 2012, it soon acquired customers including Samsung Pay, LG Pay, AliPay and WeChat, protecting things like their biometrics systems.

But as these companies expanded exponentially, they decided to build their own in-house solutions for only their individual use.

News