French company INSIDE Secure and Toronto’s SecureKey Technologies Inc. have announced they are working together to make mobile and online payments and other authentication transactions more convenient and secure. Going beyond using an NFC-enabled smartphone to make payments at local merchants, the combined INSIDE Secure and SecureKey solution enables a smartphone, tablet, laptop or other device to act as a secure terminal to read chip-based contactless cards for point-of-sale and other authentication applications. It will be available to device OEMs as an integral part of INSIDE Secure’s award-winning SecuRead® solution.
The new solution integrates the patent-pending SecureKey technology into the INSIDE SecuRead NFC solution, available in a SecuRead version upgrade. With SecuRead and the SecureKey technology integrated into a smartphone or tablet, these devices can support strong two-factor authentication using a contactless credential on a smartphone or contactless card.
“This innovative solution is like placing an online merchant’s POS terminal in the consumer’s handset, and the merchant doesn’t even have to make any changes to their existing web site to support this,” said Charles Walton, general manager and executive vice president, NFC and secure payments at INSIDE Secure. “The SecureKey technology we have implemented in the SecuRead module securely reads contactless card information just like a real POS terminal.”
“Our SecureKey technology makes online checkout easier and more secure, and allows cardholders to finalize their checkout almost instantly with a single tap,” said Greg Wolfond, CEO at SecureKey Technologies. “The INSIDE SecuRead platform is a perfect complement to our SecureKey technology, and brings this powerful security solution out to the mainstream device manufacturer market.”
The two-factor authentication capabilities of the combined solution also make it ideal for a broad range of other online applications requiring core authentication.