Apple Pay

Oberthur, Mobeewave Turning NFC Secure

Given the fresh popularity boost that Apple Pay has given NFC, concerns about the transmission’s use outside of Apple Pay has raised security concerns. Two companies,  Oberthur Technologies and Mobeewave, are leveraging those fears and have rolled out a product designed to turn any NFC device using Oberthur’s PEARL eSE into a secure mPOS.

The companies initially released no details about how their product would do this when they announced on Nov. 12.

“Mobeewave is the market leader of NFC mPOS services based on its unique end-to-end software solution while OT has unbeatable market reach with OEMs and Banks, over and above its TSM capabilities,” said Cédric Collomb, Managing Director of the Telecom Business Unit at OT. “The combination of the assets of our two companies will allow us to offer a unique and value-add mPOS solution.”

“When one sees that most of the banks are looking into limiting cash management, simplifying their logistics chain and reducing internal costs, the solution we provide is a blessing for them. It helps banks and payment service providers to push new offers on the market by leveraging on their customer devices while also generating more transactions by simplifying the act of payment” said Benjamin du Haÿs, CEO & co-founder of Mobeewave.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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