Proxama has announced a partnership with semiconductor supplier ARM Holdings to create secure payment mechanisms for mobile handsets.
The UK-based partners say they will combine ARM’s TrustZone technology with Proxama’s Mobile Wallet to develop a “highly secure” environment for NFC-enabled mobile contactless payments and mobile internet payments.
According to Proxama, 2012 is set to be a “watershed” year for NFC payments, with the launch of wide-scale contactless mobile payments for the London Olympics, aka the “Contactless Games,” the summer.
“The race to develop secure mobile payment systems is heating up,” said Miles Quitmann, managing director of Proxama. “Key customers such as credit and debit card issuers understandably demand the very highest levels of security. We’ve teamed up with ARM because of their wealth of experience in creating highly scalable, secure systems.”
Quitmann says the partners’ first collaborative prototypes should be announced in the next few weeks.