OT Partners with Mobvoi and CUP to Launch the First Secure Contactless Payment Service on Ticwatch in China
OT (Oberthur Technologies), a leading global provider of embedded security software products and services, today announced a key partnership with Mobvoi, the leading Artificial Intelligence and smart watch company, and China Union Pay (CUP), the Chinese payment scheme, to launch one of the first Android smart watches allowing secure contactless payment in China secured by OT’s embedded Secure Element.
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Mobvoi’s Ticwatch is by far the best selling Android smart watch in China since its launch in September 2015. With the objective to provide a revolutionary payment experience on a smart watch, Mobvoi, in collaboration with CUP and OT has now added the convenience of secure payment with a wave of the wrist. To make a purchase, users will just need to wave their Ticwatch in front of a contactless CUP payment terminal in the near future. By mid 2017, all payment terminals will support contactless payment following China’s central bank regulation.
In order to secure the CUP payment service running on Mobvoi’s smart watches, PEARL by OT® embedded Secure Element was chosen. It is the most advanced multi-application eSE offering the highest level of security and the largest memory on the market. This all-in-one product allows easy deployment of NFC services, such as payment, transit, governmental and automotive applications, as well as online services for enterprise and consumer markets. It is the safest possible place to store confidential information and execute sensitive applications. PEARL by OT® is certified by all major payment schemes for mobile payment, including CUP.
Thanks to PEARL by OT®, paying with a Ticwatch will become incredibly convenient and seamless for end-users. They will simply install a Ticpay onto their mobile phone to activate the service, then simply by scanning an existing payment card, they can add it to Ticpay.
“We believe that contactless payment is the revolutionary payment lifestyle enabled by wearable devices. With this in mind, we are developing the wearable technologies to provide a secure, efficient and seamless payment experience to all our users. We are delighted to collaborate with OT and China Union Pay to bring an innovative payment mechanism on Ticwatch throughout China. Thanks to OT’s technology, we will be able to bring convenience to our customers combined with a high level of security for NFC payment. In addition, whilst the service will be initially available in China, we would like to bring this service to our global audience and continue this collaboration ” said ZhiFei Li, founder& CEO at Mobvoi.
“We are delighted that Mobvoi has selected OT to secure sensitive applications in the next generation of Ticwatch smart watches including CUP’s contactless payment service, but also transport applications for major Chinese city transport operators. At OT, we provide embedded security solutions that protect the critical assets of end-users, ensuring the consumer experience offers convenience and maximum ease of use ” said Marek Juda, Managing Director of the Connected Device Makers business at OT.
OT will demonstrate this first secure contactless payment service on Ticwatch in China with Mobvoi and CUP during Mobile World Congress at Shanghai on its booth N2.A10 from June 29 to July 1, 2016.
ABOUT OBERTHUR TECHNOLOGIES
OT is a world leader in embedded digital security that protects you when you connect, authenticate or pay.
OT is strategically positioned in high growth markets and offers embedded security software solutions for “end-point” devices as well as associated remote management solutions to a huge portfolio of international clients, including banks and financial institutions, mobile operators, authorities and governments, as well as manufacturers of connected objects and equipment.
OT employs over 6 500 employees worldwide, including almost 700 R&D people. With a global footprint of 4 regional secure manufacturing hubs and 39 secure service centers, OT’s international network serves clients in 169 countries. For more information: www.oberthur.com
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