E-security products provider Cryptomathic has released the Cryptomathic Cloud Wallet, which enables secure mobile payments through the cloud.
Rather than using payment applications that are delivered through EMV chips located in payment cards or on smart phones, the Cloud Wallet links a user’s payment methods and mobile devices to a secure networked platform.
To use the Cloud Wallet, a cardholder enrolls their devices with the system and then uses those devices to make transactions. The Cloud Wallet is capable of making NFC point-of-sales payments, enhancing the security of EMV-type transactions.
Cryptomathic is demonstrating this new product at Cartes North America this week.