Vipps is the provider behind Norway-based payment system BankAxept and it recently channels Inside Secure to create a protection system for its mobile transactions. All of the firm's card and mobile contactless payment methods are now protected by two different elements -- Inside Secure's own Code protection service and the Whitebox system. Inside Secure's service secures applications and uses its tools to identify any threats that may occur during the transaction.
Bjørn Skjelbred of Vipps announces that they see a long-lasting partner through their work with Inside Secure, especially in their collaborative dedication to providing the strongest security for the nation. He states, "It’s clear that Inside Secure offers not only the technology but also the knowledge needed to work with demanding financial institutions."
What Makes This Trend Stand Out
- Mobile Payment Security
- Implementing two different elements in securing mobile transactions through code protection and Whitebox system creates opportunities for businesses to innovate secure payment systems.
- Contactless Payment Methods
- Contactless payment methods through cards and mobile devices are becoming more common and securing these transactions create opportunities to disrupt the financial industry.
- Partnerships in Financial Industry
- Collaborative effort between financial institutions and technology providers can lead to stronger and more secure payment systems.
Sectors Adopting This
- Financial Technology
- Disruptive innovations can be made by implementing stronger security measures in financial technology solutions.
- Mobile Payment Providers
- Incorporating multiple layers of security to mobile payment services can set companies apart in an increasingly competitive industry.
- Information Security
- Working with financial institutions in creating secure payment solutions can lead to advancements in information security.
