ENP Newswire -
Release date- 10062014 -
Patent number 8,745,716 recognizes Sequent's ability to manage security and control usage of credit, debit and other secure credentials stored on mobile devices and allows managed access to those credentials by mobile apps for transactions in the physical environment.
'Patent protection for this critical innovation places Sequent in a position to take a lead in helping popularize mobile payments,' said
'Businesses that have devoted considerable resources to develop their mobile applications do not want to start from scratch when it comes to mobile payments,' said
Sequent's innovation manages the security of digital card data on the phone and allows for federated access of these credentials securely by approved mobile apps. It also dynamically manages the permissions of multiple applications using the secure payment as well as other credentials for transactions in the physical environment leveraging NFC, HCE, barcode and other technologies.
'Sequent's approach gives banks and other card issuers control and flexibility in the deployment of their mobile payment services and ensures their ability to scale their credentials into partner apps in the future,' said
This new, patented technology is leveraged in Sequent's Digital issuance and Open Wallet Platform products and has been commercially deployed at several major customers in multiple countries.
Sequent is the world's leading provider of digital issuance and open wallet platform-as-a-service that delivers secure mobile payments and value-added services to banks, mobile operators, merchants and access control providers. With Sequent, customers can extend digitized cards to trusted applications for an open ecosystem of partners and developers while maintaining the strictest requirements of highly secure, regulated industries. Sequent products include: Open Wallet Platform,
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