In June 2013, Bell ID launched Secure Element in the Cloud. The technology enables credentials and information relating to a mobile service to be securely stored, and the associated processes to be executed, in a cloud environment, removing many of the complexities and cost implications related to the deployment of secure mobile services. Cloud mobile payments have come to the fore in the last six months with the incorporation of host card emulation (HCE) into Android’s operating system; enabling cloud services for more than 85% of mobile users.
Patent Pending Secure Element in the Cloud
As a pioneer in the cloud-based mobile payments sector, Bell ID has taken further steps to protect this intellectual property by filing an international patent application (WO2014/048990) with the World Intellectual Property Organization (WIPO). Movements by Google and the payment systems in the past few months are showing that cloud mobile services are no longer hype, but should be considered as a viable route to market for service providers such as banks and mobile network operators. I look forward to sharing further announcements in the coming months.
Mobile Payment Awards
Following the news from the beginning of the year that the product has been selected by a top Canadian bank, we also received the Mondato European MFS Innovation of the Year award which further demonstrates the value that Secure Element in the Cloud is already bringing to the marketplace. Additionally, we have been nominated for the Contactless Intelligence Eco System Industry Choice award for our efforts in furthering the near field communication ecosystem. In 2013 we were also finalists in the Accenture Innovation and SESAMES awards.