SANTA CLARA, CA--(Marketwired - Jan 6, 2017) - Sequent Software, the leader in digitizing payment, transit, access control and hospitality cards, and MagicCube, the creator of the breakthrough Software Trusted Execution Environment (sTEE™) platform, today announced a partnership to bring to market the first full software solution that rivals hardware secure elements to protect mobile and other connected devices. Sequent and MagicCube are integrating their industry-leading technologies in a new offering that protects token-based payment service deployments from advanced threats.
MagicCube's technology provides a secure in-app container that protects sensitive data, sensitive logic, and cryptographic operations on the device while offering unprecedented ease of deployment and remote management capabilities.
Sequent Platform digitizes legacy plastic cards from card issuers, such as banks, transit agencies and access control companies and makes them usable on smartphones and wearables. Any smartphone app can use these cards to make a payment, ride public transit systems, or get access to office buildings or student campuses. This new security option increases the number of smartphones Sequent can support with cards, making these smartphones more valuable in consumers' everyday lives.
"Digitizing billions of mobile cards requires stronger security than provided by keystore services from mainstream operating systems," said Hans Reisgies, Sequent CTO. "sTEE from MagicCube gives Sequent the scale of a software-based security solution while rivaling the protection of legacy hardware-based security technologies."
"Through this partnership with Sequent, we will enable the storage and protection of high value credentials on mobile and connected devices without the impediment of relying on hardware," said Sam Shawki, CEO and cofounder of MagicCube. "This means making deployments of secure applications cheaper and faster, and updates easier for developers, while keeping users' data safe."
Sequent Platform brings cards to mobile and makes them useful for consumers. Sequent enables banks, transit agencies, access control providers and any other issuer to securely digitize their credit, debit, transit, loyalty, or ID cards, distributing them to their own application or any others using the Sequent Platform. Sequent's simple APIs empower the app developer community to bring cards to all apps on mobile, wearable, and other connected devices enabling consumers to make payments, redeem offers, open doors, and ride transit systems. Sequent Platform includes: Token Service Provider (TSP), Card and Wallet Management Platform, and Trust Authority. For more information, visit www.sequent.com, and follow us on Twitter @sequentsw.
MagicCube breakthrough technology secures digital transactions on mobile & IoT devices using patented software-only platform, without the complexities and high costs of hardware solutions. MagicCube's technology provides a secure in-app container that protects sensitive data and sensitive logic and cryptographic operations on the device, while offering unprecedented ease of massive deployment and remote management capabilities. For more information, visit www.magiccube.co or follow us on Twitter @Magic3inc.