#Money2020 – Singapore Payments Provider Selects whiteCryption for Mobile Payment App Shielding
LAS VEGAS–(BUSINESS WIRE)–Money 20/20 – Intertrust Technologies Corporation announced today that NETS, a leading payment solutions provider based in Singapore, has selected Intertrust’s award-winning whiteCryption® Application Shielding technology to protect its mobile payment applications.
NETS is a leading payments company in Singapore and operates Singapore’s national PIN debit scheme as well as the largest acceptance infrastructure in the country located at major retailers, food courts, hawker centres, convenience stores, and supermarkets.
NETS’ nationwide acceptance infrastructure of 100,000 acceptance points accepts both card and digital payments from customers of participating banks DBS Bank, Maybank, HSBC Bank, OCBC Bank, Standard Chartered Bank, and UOB. The network also accepts UnionPay and BCA cards, and includes 35,000 Unified Point-of-Sale (Unified POS) terminals and 30,000 QR acceptance points.
NETS will use whiteCryption’s application shielding technology to protect sensitive components of its member banks’ Android and iOS payment apps from malicious attacks.
“As consumers’ lives revolve around their smart devices, the phone has now become a device for payments. That has hastened the development of payment apps such as our NETSPay app. At the same time, we need to ensure that our app adheres to the highest security standards to protect our customers’ financial information,” said Vincent Low, Chief Information Officer at NETS. “After a long evaluation process, we chose whiteCryption as it was the best in class.”
whiteCryption offers leading banks and credit card companies solutions that secure their mobile applications. Code Protection™is a comprehensive tool for hardening modern software applications on multiple platforms. Secure Key Box™ is a white box crypto software library that protects cryptographic algorithms at all times.
“Payment apps are a frontline venue for hackers. Without proper security technology applied in the app itself, consumers will not trust their software and will forgo the tremendous convenience that mobile financial apps provide,” said Bill Horne, general manager, Intertrust Secure Systems. “We built whiteCryption application shielding technology to raise the security bar by protecting the executable code in a mobile app – we are delighted to partner with NETS to secure their apps and enhance the value they deliver.”
About NETS Group
The NETS Group, comprising NETS, Banking Computer Services (BCS) and BCS Information Systems (BCSIS), facilitates digital payments for merchants, consumers and banks across the entire payments value chain.
The Group provides multiple payments and financial processing services including direct debit and credit payments at point-of-sale (POS) and online, digital payments via smart devices, card services, electronic funds transfer and cheque processing services.
The Group is owned by Singapore’s largest banks, DBS Bank, OCBC Bank and United Overseas Bank (UOB).
About Intertrust Technologies Corporation
Intertrust provides trusted computing products and services to leading global corporations – from mobile and CE manufacturers and service providers to enterprise software platform companies. These products include the world’s leading digital rights management, software tamper resistance and privacy-driven data platforms for AdTech, DNA storage, and IoT.
Founded in 1990, Intertrust is based in Silicon Valley, with regional offices in London, Tokyo, Seoul and Beijing. The Company has a legacy of invention, and its fundamental contributions in the areas of computer security and digital trust are globally recognized. Intertrust holds hundreds of patents that are key to Internet security, trust, and privacy management components of operating systems, trusted mobile code and networked operating environments, web services, and cloud computing. Additional information is available at intertrust.com, or follow us on Twitter or LinkedIn.
whiteCryption, a subsidiary of Intertrust Technologies, is a leading provider of application shielding solutions to prevent hackers from reverse engineering and tampering with code. We specialize in advanced obfuscation, runtime application self-protection (RASP), and white-box cryptography solutions for mobile apps, desktop applications, firmware and embedded applications. whiteCryption protects content for the automotive, banking/finance, healthcare, and entertainment industries.
Other Point of Sale News
- #Money2020 Clinc Partners with Enacomm to Connect Financial Institutions
- Mastercard Simplifies Managing Your Digital Footprint
- Redrock Biometrics Announces Availability of PalmIDTM With Multiple Features
- Verifone Collaborates with Third-Party App Developers to Help Merchants Grow
- TableSafe Launches EMV on its Award-Winning RAIL Pay-at-the-Table Platform
- First Data Unveils Series of New Initiatives with Apple Pay
- Mastercard Eyes Future of Retail with AR Shopping Experience
- TD Bank’s Annual Consumer Spending Index Reveals Missed Opportunities to Claim Credit Card
- Toppers Pizza Selects Episerver to Transform Digital Customer Experience