Thales helps Swiftch secure first Visa Ready and MasterCard self-certified mPOS solution in the Middle East
Increasing card acceptance and delivering improved customer experience in countries where cash is king
DUBAI, United Arab Emirates, May 31, 2016 /PRNewswire/ -- Thales, leader in critical information systems and cybersecurity, announces that its payShield 9000 hardware security modules (HSMs) are being used by Swiftch, an innovative payment technology company, to help secure the first Visa Ready and MasterCard self-certified mobile card payment acceptance solution for merchants and acquirers throughout the United Arab Emirates (UAE).
UAE is highly developed in terms of IT infrastructure, internet and smartphone usage, and yet cash is still the predominant payment method. With Dubai being the host country for Expo 2020, the UAE government is driving an initiative aimed at achieving a cashless society by the time of the world fair. Using Thales hardware security modules (HSMs) to support end-to-end encryption of the payment data, Swiftch developed a highly secure mobile point of sale (mPOS) solution that allows merchants of all sizes to accept payments using just a standard smartphone or tablet and a low cost mobile card reader.
Thales HSMs are a critical component in securing Swiftch's mPOS solution. Designed specifically for the payment industry, payShield 9000 HSMs secure devices running card issuing and payment processing applications. The Swiftch application integrates payShield HSMs with mobile card readers from Miura to enable a point to point encryption (P2PE) zone to be established between the card acceptance point and the internet-based payment gateway.
Aditya Anand, Chief Executive Officer at Swiftch says:
"Taking card payments on the move, especially in places like street markets, restaurants or when making home deliveries has always been a challenge. Our mPOS solution enables affordable on-the-go payments for merchants of any size or where home delivery drivers require payment on delivery. Hardware solutions are pivotal in making security viable in mobile environments and Thales was an obvious for choice for us, offering a best in class solution with wider support and recognition in the payments market than any other provider."
Peter Galvin, Vice President Strategy, Thales e-Security, says:
"Mobile acceptance is seeing tremendous growth globally with a predicted 50% annual growth rate between now and 2020. But there has remained a gap between the payment options available at fixed, in-store point of sale terminals and mobile devices due to the lack of appropriate security technologies available. Thales is working closely with innovators such as Swiftch to close that gap by delivering the same high levels of security to the mobile world as have become common place in the tradition in-store fixed terminal environment."
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About Swiftch
Swiftch is a young innovative technology company based in Dubai, UAE with services and partnerships globally. The company is focused on facilitating commerce in the physical and virtual world through innovative online and card present and card not present payment solutions.
Swiftch commenced operations in 2012 and developed Swiftch – a fully PCI DSS certified mPOS Solution integrated with a EMV Level 1 and Level 2 and PTS Certified Card Reader. Swiftch is also the first and only Visa Ready and MasterCard self-certified mPOS Solution in the Middle East.
About Thales e-Security
Thales e-Security is a leading global provider of digital trust management and data protection solutions that protect the world's most sensitive applications and information. Thales solutions address identity and privacy related challenges with hardware and software-based encryption, digital signature, and management capabilities. In today's increasingly connected world, our solutions help thwart today's targeted attacks and reduce the risk of sensitive data exposure introduced by cloud computing and virtualization, consumer devices in the workplace, increased mobility, big data, and more. Thales e-Security has a worldwide support capability, with regional headquarters in the United States, United Kingdom, and Hong Kong. www.thales-esecurity.com
About Thales
Thales is a global technology leader for the Aerospace, Transport, Defence and Security markets. With 62,000 employees in 56 countries, Thales reported sales of €14 billion in 2015. With over 22,000 engineers and researchers, Thales has a unique capability to design and deploy equipment, systems and services to meet the most complex security requirements. Its exceptional international footprint allows it to work closely with its customers all over the world.
Positioned as a value-added systems integrator, equipment supplier and service provider, Thales is one of Europe's leading players in the security market. The Group's security teams work with government agencies, local authorities and enterprise customers to develop and deploy integrated, resilient solutions to protect citizens, sensitive data and critical infrastructure.
Drawing on its strong cryptographic capabilities, Thales is a global leader in data protection and one of the world leaders in cybersecurity products and solutions for defence, critical infrastructure and telecommunication operators, industrial and financial companies. Covering the entire cybersecurity chain, Thales offers a comprehensive range of services and solutions that includes: cybersecurity consulting and testing, cyber-secured software centric system design / development / integration and certification, provision and through-life management of data protection products and services, secured IT outsourcing and cloud computing solutions, as well as managed security services based on our network of Security Operation Centers in France, the United Kingdom and the Netherlands.
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