Network For Electronic Transfers Singapore (NETS) has selected Intertrust’s whiteCryption application shielding technology to protect mobile payment applications.
The technology will protect the sensitive components of member banks’ Android and iOS payment apps from malicious attacks.
NETS CIO Vincent Low said: “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 NETS Pay app.
“At the same time, we need to ensure that our app adheres to the highest security standards to protect our customers’ financial information. After a long evaluation process, we chose whiteCryption as it was the best in class.”
Intertrust Secure Systems general manager Bill Horne said: “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.
“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.”
NETS accepts both card and digital payments from DBS Bank, Maybank, HSBC Bank, OCBC Bank, Standard Chartered Bank, and UOB.
It also accepts UnionPay and BCA cards, 35,000 unified point-of-sale (Unified POS) terminals and 30,000 QR acceptance points