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February 21, 2020

XUMI taps nCipher Security to combat payment frauds

Payments services provider XUMI has partnered with nCipher Security to reduce payment frauds for merchants and consumers.

As part of the collaboration, XUMI selected nCipher nShield Connect hardware security modules (HSMs) to bolster the security embedded in its mobile payments solution.

nShield Connect HSMs are devices that offer cryptographic key services to applications.

It is used to protect the keys used to encrypt and decrypt data and to create digital signatures and certificates.

nCipher Security chief strategy officer Peter Galvin said: “While digital payments are much faster and more convenient, those benefits will quickly erode if strong security measures are not an integral part of this innovation.

“It is clear XUMI takes security very seriously and is committed to preventing fraud, underlined by its choice to deploy our nShield HSMs as the root of trust for its mobile payment solution.”

XUMI works to enable secure payments between cardholders and merchants. The implementation of nShield Connect HSMs will enable XUMI to create seamless security architecture for both ends of a transaction.

XUMI principal Juliana Cafik said: “The nShield HSM helps us to create structures that can be used to verify trust on both sides and to be independent of consumer mobile devices.

“It allows us to satisfy all the Payment Card Industry Data Security Standard (PCI DSS) security requirements for encrypting stored personal and payment information and is a key element of the security of the overall operational environment.”

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