The collaboration will provide SideTap micro secure digital (MicroSD) memory cards equipped with Tyfone’s patented technologies that will transform most mobile phones with a memory slot into a mobile contactless payment device.
The MicroSD card powered by Tyfone technology lets the card work like an actual mobile ‘wallet’. The card can contain financial information and secure identification from multiple sources, such as specific retailers or financial institutions in both open-loop and closed-loop scenarios.
SideTap card’s onboard controller that manages over-the-air (OTA) access in conjunction with the u4ia mobility platform is expandable, allowing consumers to add new payment and identity options, creating a mobile wallet that is as flexible as the card provider would like it to be.
Through this agreement, First Data will provide merchants and financial institutions with Tyfone’s patented SideTap secure memory card and u4ia mobility platform for OTA life cycle management.
Moreover, the SideTap card can retain memory card functions, so consumers can continue to utilize the card as they normally would, to store photos, videos, music, documents, or other files. An embedded SmartMX security chip from NXP, a provider of semiconductors, will safeguard all transactions operated on the MicroSD card.
Dom Morea, division manager of mobile commerce solutions at First Data, said: “First Data chose Tyfone’s SideTap memory card because it serves the needs of consumers who want to use contactless payment options with over the air access, but still want to retain the memory card functionality of their MicroSD card. We are excited to partner with Tyfone and bring this technology to consumers in the second half of 2010.”
Siva Narendra, chief technology officer at Tyfone, said: “With over 60% of the mobile phones being sold today with memory slots, memory cards are widely used in the mobile eco-system, making it an ideal form factor for issuers to add contactless payment. However, consumers are unlikely to swap between memory card for payment and storage in their phones. So our SideTap cards integrate storage and contactless payments in the same memory card to enhance consumer’s experience.
“Mobile phone users are familiar with memory cards, many of which are bought directly from their mobile network operators. Tyfone in collaboration with First Data and NXP provides a win-win-win for the consumer, issuer, and the mobile network operator.”
Henri Ardevol, general manager of secure transactions at NXP, said: “The promise of MicroSD card-powered technology to drive contactless payments is profound, with the ability to very quickly enable mobile transactions for businesses and their customers. Our partnership with First Data and Tyfone is an exhibit of the kind of innovative technology that will bring significant benefits for consumers as well as the key stakeholders such as banks, transportation companies, mobile network operators and merchants.”
