During the CTIA Wireless in Las Vegas, Gemalto and Texas Instruments announced collaboration to enable Gemalto Mobile Financial Services on TI’s OMAP platform and M-Shield security technology for mobile devices. As a result, the two companies unveiled a new solution that integrates security platform for conducting mobile financial transactions.
Here’s how it works (from the press release):
Gemalto’s Mobile Financial Services runs on TI’s OMAP platform trusted execution environment, which includes Trusted Logic’s Trusted Foundations. This secure environment provides protection for financial based applications stored and used on leading smartphones built with the TI OMAP processor equipped with M-Shield security technology. Applications can be secured with strong two-factor authentication — verifying the user and the phone — which requires the user to enter securely a personal identification number (PIN) prior to gaining access to financial services applications.
And if you wonder, Gemalto acquired Trusted Logic in September 2009. The first deployments of Trusted Logic’s Trusted Foundations focused on enterprise security and DRM, and now this environment has been expanded to mobile financial services.