INSIDE Secure, based in France, announced yesterday that it will offer “security hardware, software and payments industry expertise” to mobile commerce platform provider Loop, according to an INSIDE Secure press release.
INSIDE Secure’s VaultSEcure element will allow Loop to use payment card data storage for LoopWallet. The two companies also joined together to create an applet to enable “secure electronic payment transactions with the tens of millions of mag-stripe card readers already in use.”
“In payments especially, innovation requires serious foresight and expertise to help protect cardholder data,” Will Graylin, CEO of Loop, told PYMNTS.com. “We appreciate the work that has been done by security experts like INSIDE, and value our partnership to implement safe and effective ways to store payment credentials.”
For more on INSIDE Secure and Loop’s collaboration, click here.
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