UK semiconductor and software design company ARM Holdings (ARM), is moving into the secure mobile payment market by taking a 40% stake in a new company, Trustronic, which ARM, is developing a platform for secure payments over mobile devices.
ARM’s partners in the venture are Dutch security company Gemalto and German payment systems company Giesecke & Devrient, each of which has 30%. Trustronic will be based in ARM’s UK home town of Cambridge.
Companies that are reported to have expressed interest in adopting the Trustronic platform are Samsung, Cisco, 20th Century Fox, Mastercard, Sprint, Symantec, Wave Systems, Nvidia, Discretix, Irdeto, Inside Secure, and Good Technology.
According to reports, the new company aims to commercialise trusted execution environments (TEEs), which have some similarities but also a number of major differences from the so-called ‘wave-and-pay’ near-field communications (NFC).
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