ARM, the company that designs chips found in most of today’s phones and tablets, is teaming-up with Gemalto and Giesecke & Devrient to create a new entity called Trustonic that will deal with mobile security. ARM owns 40% of Trustonic’s shares, while two other companies each own 30% of Trustonic.
If you haven’t heard about the two other players, you should know that Gemalto is a Dutch security company best known for making SIM cards, while Giesecke & Devrient is a German maker of smart cards and cash handling systems.
Trustonic will work on developing a platform for secure payments over mobile devices that should feature significantly faster mobile payment verification than its competitors’.
And already there’s some interest gathering around the new initiative with companies like Samsung, Cisco, 20th Century Fox, MasterCard, Sprint, Symantec, Wave Systems, Nvidia, Discretix, Irdeto, Inside Secure and Good Technology all lining up to test the system.
And while all this sounds nice and cool we still wait for Apple to unveil its plans for mobile payments. Hopefully, they’ll have something to add to the table during next year. We’ll see…
[Via: Unwired View]