Sequent, a provider of Trusted Service Manager (TSM) software and services for Near Field Communication (NFC) phones, has announced the release of the Sequent Wallet Management Platform, available immediately for phones with secure element technology running Android 4.0 and up.
Sequent Wallet Management Platform makes it possible for any authorized mobile app to use any card stored in the phone’s secure element, turning the app into a wallet. It also allows any card to be used in many authorized wallets, unlocking new value for both mobile operators (MNOs) and card issuers. The Sequent Wallet Management Platform tracks which wallets are authorized to use each credential in the secure element, while protecting the secure element from use by unauthorized apps.
The solution maintains every card’s branded “look and feel” consistently across apps. This allows card issuers to maintain their brand identity in their own wallet, as well as allowing their branded credentials to be used in partners’ wallets. The Sequent Wallet Management Platform can allow cards to be accessible simultaneously from any readily available wallet and also the card issuer’s dedicated app –– and lets the consumer use that card in any of the approved apps or wallets.
“Sequent Wallet Management Platform brings win-win economics to MNOs and issuers,” said Hans Reisgies, Sequent’s Senior Vice President, Product. “MNOs can offer increased value to banks and other service providers, who can now allow many authorized wallets to have access to their card. In addition, card issuers can finally bring their issued credentials into their own wallets.”
Nick Holland, Principal Analyst at Yankee Group, adds, “The question of wallet ownership has been a significant challenge to acceptance of mobile payments. Consumers want to be able to choose which wallets, and how many wallets, they want on their phones. Solutions such as the Sequent Wallet Management Platform go a long way to removing this barrier to adoption, putting the choice back in the true owners of mobile transactions – the end users.”
Sequent Wallet Management Platform includes on-device middleware that is deeply integrated with Android OS. The product has already been integrated with industry-standard TSM platforms including Sequent’s own TSM.
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