Loop selected the INSIDE VaultSEcure secure element to enable payment card data storage for its LoopWallet solution. INSIDE also collaborated with Loop to create a technical specification for LoopWallet and developed an applet to enable it to perform secure electronic payment transactions with mag-stripe card readers already in use.
The LoopWallet uses magnetic induction to communicate the credit card information stored in the wallet to mag-stripe POS terminals. The INSIDE VaultSEcure product stores all payment card and other mag-stripe card information. The specially developed INSIDE applet applies technology originally developed for Near Field Communication (NFC) to transfer that data to the terminal. The wallet can also receive data from the terminal, such as promotions and other relevant offers for value-added services.
In recent news, INSIDE Secure has revealed that Korea-based fabless semiconductor provider Telechips has embedded the Inside DRM Fusion Agent services for high-bandwidth digital content protection (HDCP) and digital transmission content protection (DTCP-IP) into its TCC892X family of set-top box multimedia application processors.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now