Cybersecurity firm Thales has revealed that payments technology company Swiftch is using its payShield 9000 hardware security modules (HSMs) to secure Visa Ready and MasterCard self-certified mobile card payment acceptance solution for merchants and acquirers throughout the UAE.
Designed specifically for the payment industry, payShield 9000 HSMs secure devices running card issuing and payment processing applications.
Using Thales HSMs to support end-to-end encryption of the payment data, Swiftch developed a secure mobile point of sale (mPOS) solution that enables merchants of all sizes to accept payments using a standard smartphone or tablet and a mobile card reader.
"The Swiftch application integrates payShield HSMs with mobile card readers from Miura to enable a point to point encryption (P2PE) zone to be established between the card acceptance point and the internet-based payment gateway," Thales said in a statement.
Swiftch CEO Aditya Anand said: "Our mPOS solution enables affordable on-the-go payments for merchants of any size or where home delivery drivers require payment on delivery. Hardware solutions are pivotal in making security viable in mobile environments and Thales was an obvious for choice for us, offering a best in class solution with wider support and recognition in the payments market than any other provider."
Peter Galvin, Vice President Strategy at Thales e-Security, said: "Mobile acceptance is seeing tremendous growth globally with a predicted 50% annual growth rate between now and 2020. But there has remained a gap between the payment options available at fixed, in-store point of sale terminals and mobile devices due to the lack of appropriate security technologies available.
"Thales is working closely with innovators such as Swiftch to close that gap by delivering the same high levels of security to the mobile world as have become common place in the tradition in-store fixed terminal environment."