Sequent Software, the world's leading provider of digital issuance and open wallet platform-as-a-service, has received approval from Visa, Inc. the world's largest payment technology company, for its Trusted Services Manager (TSM) systems.
The Sequent platform is commercially available today for banks and mobile phone operators launching new digital issuance and mobile wallet services worldwide.
"Few companies have achieved this level of security and we are proud to be one of them," said Lance Johnson, Chief Security Officer of Sequent. "The Visa approval provides peace of mind to our customers since they know that the security of our platform far exceeds most commercial requirements such as PCI DSS.
Sequent's Digital Issuance (SP-TSM) service securely manages and distributes payment credentials to mobile-device users worldwide on behalf of banks, mobile operators, merchants, transit and service providers. The service handles all pre- and post-issuance configuration of handsets, including personalization of NFC secure elements and provisioning of applications "over the air."
"A key to our competitive advantage is our capability to merge the innovation of the Sequent platform with the most stringent security requirements of the banking industry." added Robb Duffield, CEO of Sequent. "This enables us to offer an open platform that integrates all the partners and stakeholders required to bring advanced digital issuance and mobile wallet services to market."
Visa's approval formally recognizes Sequent's ability to manage sensitive payment credentials meeting the robust security levels of global payment networks. As a result, the new service enables banks to use digital issuance to securely and easily deliver new mobile wallet services to customers, leveraging the growing worldwide base of enabled smart phones.