Arxan Revolutionizes Security for mCommerce

SOURCE: Arxan Technologies, Inc

BETHESDA, MD--(Marketwired - Sep 29, 2014) - Arxan Technologies, the industry-leading provider of application protection solutions, today announced its security solution for all developers launching mobile apps that include cloud-based payment capabilities. Arxan's innovative and proven approach to secure mCommerce is immediately available for financial institutions, merchants and retailers to help them quickly launch branded value-added services, such as mobile wallet and payment apps. Arxan's security solution is comprised of both mobile application hardening and secure cryptography, which delivers a holistic and robust level of protection.

Google's Host Card Emulation (HCE) is one of the payment schemes that Arxan's solution can protect. HCE permits a phone to emulate a payment card on a device that is enabled with Near Field Communication (NFC) technology without relying on access to a hardware secure element (SE). As of July 2014, 22% of Android smartphone users can leverage this software-based HCE payment capability on their device, indicating a high market opportunity for HCE payment-based solutions.1

If unprotected, HCE-based applications, such as mobile wallet or payment apps, are exposed to significant security risks. These risks include insecure cryptographic key storage that can lead to unauthorized access to sensitive information, fraud and brand damage.

To mitigate risk resulting from the absence of a hardware SE, Arxan's solution provides additional security layers to HCE-based applications. Examples of these include secure cryptography, root device detection, obfuscation and integrity checks within the application. Arxan's easily deployable approach provides companies with an opportunity to gain a competitive advantage based on the strength of security with their mobile apps and the speed with which the app can be deployed.

Arxan's comprehensive software-based security offers the following benefits:

"As the mobile payment landscape is evolving to provide greater value than a traditional credit card, so too must security approaches," said Mike Dager, CEO, Arxan Technologies. "We are committed to providing our mCommerce customers with innovative security solutions that are durable and support scalability. Arxan's proven ability to keep sensitive information safe with its secure cryptography for F500 companies delivers disruptive opportunity for mobile app developers to launch their branded services with confidence."

To learn more about Arxan's innovative approach to secure mCommerce, Arxan's Security Solutions Architect, Winston Bond, will be hosting a webinar on Tuesday, September 30, from 11:00 AM - 11:30 AM EDT. For registration details, please visit: Revolutionary Security for HCE Mobile Payments.

Also, Vince Arneja, Arxan's VP of Product Management, will be providing more information at the Mobile Payment Conference, as a speaker on the industry panel, Keeping Mobile Commerce Secure, on Oct. 7th at 4:15 pm. To meet with Vince at the conference, please email info@arxan.com.

About Arxan Technologies

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Arxan Revolutionizes Security for mCommerce