SANTA CLARA, Calif., June 03, 2019 (GLOBE NEWSWIRE) -- MagicCube, the creator of the world’s only Software Trusted Execution Environment based platform, today announced it will form partnership with NTT DATA Corporation, a leading IT services provider. Together, the two companies will secure and power the next generation of payments, acceptance applications and devices. The combination of MagicCube’s EMVCo-certified security platform and its PCI-ready PIN-on-Glass solution, with NTT DATA, will create a new, easy to certify and deploy solution that allows secure input of sensitive data on a touch screen.
Previously, this task was limited to dedicated hardware with physical keypads, such as ATMs and other cash register payment devices. In markets where contactless cards are widely deployed, any consumer device, such as a smartphone or tablet, can utilize Tap-to-Phone to fully handle payment acceptance using just an app and subscription service.
PCI certification for a new standard like, PCI SPoC, is typically costly in both time and resources. This can be accelerated considerably with MagicCube’s EMVCo-certified virtual Trusted Execution Environment (vTEE) and the service and support of NTT DATA, known for its excellence in security and payment services.
“When software replaces hardware, everything becomes downloadable and upgradable, which allows the market to grow exponentially. With MagicCube’s Software Defined Trust (SDT) approach, we are bringing payment acceptance to the 21st century,” said MagicCube CEO Sam Shawki. “Our PIN-on-Glass technology coupled with NTT DATA’s global presence and integration and hosting capabilities will benefit progressive large retailers as well as micro merchants and allow them easy access to this breakthrough technology.”
MagicCube and NTT DATA will begin their partnership by offering PIN-on-Glass payment solutions for Japanese retailers. The two companies will also leverage the platform to offer all payment-related functions from the cloud -- without requiring any additional, independent hardware -- to enable full mobility for payment terminal functions.
“By partnering with MagicCube, we’re accelerating the delivery of secure, cutting-edge payment solutions for retail merchants,” said Masanori Kurihara, Head of Cards & Payments Services Division at NTT DATA. “Given the ongoing digitization of retail payments and associated security concerns, our PIN-on-Glass solutions will satisfy crucial demand by providing scalable, software-based POS capabilities with the same security found in hardware-based technologies.”
About MagicCube
MagicCube is leading the Software Defined Trust (SDT) category with its software TEE-based platform. The technology enables large-scale deployment and management of IoT and mobile-secure solutions to consumers. For more information, visit www.magiccube.co.
EMVCo facilitates worldwide secure interoperability and acceptance of payment and digital transactions.
* EMV is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.
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