tyfone

- September 29, 2009 Scope This document constitutes a white paper on the principal requirements of Mobey Forum on mobile financial services. In this document, the security requirements and technical aspects of mobile financial services are discussed. Furthermore, current and emerging mobile technologies are evaluated together with Mobey Forum requirements. Mobile financial services cover mobile banking services, mobile local payments, mobile remote payments and mobile trust services such as identification and authentication

The Financial Industry is today issuing electronic payment products to its customers mainly in the format of plastic cards. Other key financial services, such as banking and brokerage, are now being increasingly handled through the Internet in most cases. Large-scale deployment of these services in the mobile channel is expected to bring numerous benefits, such as:

Nowadays, the financial sector has three key requirements for successful mass-market mobile financial services: the services must be (1) easy-to-use, (2) secure and trusted, and (3) based on commercially viable business models. While a wide range of enabling technologies have improved usability, the lack of a hardware-based Security Element (SE) in mobile handsets as well as the absence of feasible business models to support its implementation have left the financial sector concerned.

Tyfone (www.tyfone.com),a developer of next generation applications for mobile handsets, has completed trial-ready prototypes of a unique hardware/software co-design solution that will transform mobile handsets into secure.

The mobile banking technology vendor Tyfone,Inc has come up with a way for cosumers to install payments capabilities in their phones. Banks are eager to turn mobile phones into payments devices using near-field communication chipsthat can make a handset function like a contactless payment card, but only a handful of phones have the technology today.

Number 860, July 26, 2006, www.nilsonreport.com Mobile phone payments Hardware and software from Tyfone can be licensed by financial institutions to offer mobile-phone-based banking and payment applications. The technology is based on an external memory card that banks would issue for insertion into their customers’ mobile phones.

Tyfone (www.tyfone.com), a developer of next generation applications that will transform any mobile handset into a secure banking concierge, announces its board of directors. The board includes diverse financial service and banking experts experienced in international markets.

At the start of the business ecosystem analysis, the concept of MFS Business Ecosystem, as defined in Edited By Juha Risikko & Bishwajit Choudhary Mobey Forum Mobile Financial Services Ltd.
the financial sector has three key requirements for successful ass-market mobile financial services: the services must be (1) easy-to-use, (2) secure and trusted, and (3) based on commercially viable business models. While a wide range of enabling technologies have improved usability, the lack of a hardware-based Security Element (SE) in mobile handsets as well as the absence of feasible business models to support its implementation have left the financial sector concerned.