Trustonic receives security certificate for payments system

Mobile device and app security platform Trustonic has completed the EMVCo software-based mobile payments security evaluation process.

EMVCo is a global body which facilitates the worldwide interoperability and acceptance of secure payment transactions. Its evaluation of Trustonic has confirmed its trusted execution environment (TEE) solution offers a robust security foundation which meets its standards list.

The FinTech claims to be the first hardware-backed TEE solution to receive this accolade.

Trustonic offers a development toolkit which enables developers to build and deploy a range of secure financial applications including mobile payment, banking and acceptance. Its technology works on mobile point of sale terminals, ‘tap on phone’ systems and PIN entry services.

The system secures sensitive code, data and processes. Its environment continuously upgrades over the lifecycle of an app to ensure security is always provided.

Tim Hartog, director mobile payments at Riscure, the independent security test laboratory that performed the security evaluation, said, “Hardware-backed TEE technology plays a big role in enabling the mobile financial ecosystem to mature and achieve its potential.

“This is because hardware-backed TEE technology, like Trustonic’s TEE, can protect apps even if attackers have root privileges on the device. With Trustonic providing access to the TEE through TAP, solution developers are now able to effectively secure PIN entry on smartphones. This is a key enabler for using smartphones as acceptance devices.”

Last year, digital fraud prevention company Signifyd received a certification from EMVCo for its SCA solution, which it claims is the first 3D-Secure version 2.2 solution to do so.

Copyright © 2020 FinTech Global

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