ValidSoft, a supplier of telecommunications-based fraud prevention, authentication and transaction verification products, announced its new partnership with Spindle Inc., a mobile commerce and alternative payment solutions provider to bring payments security products to U.S.-based customers.
Under the terms of the partnership, ValidSoft will provide Spindle with its SMART (Secure Mobile Architecture for Real-time Transactions) technology for use in Spindle’s RhinoVerify security product. SMART is a custom-built, multi-layered, multi-factor authentication and transaction verification technology.
RhinoVerify is a verification process utilizing instant messaging, SMS and other technologies for purchase and transaction authentication. It can be used in conjunction with multiple types of transactions, including mobile commerce, e-commerce and brick and mortar stores. By integrating the SMART technology, Spindle will be able to add additional security and customer privacy measures to its product.
Spindle plans to release RhinoVerify with SMART technology in the second half of 2012.