#None #Licel #EMVCo #Mobile Security

Licel's vTEE Approved by EMVCo for Android and iOS

In a significant development for mobile security, Licel, renowned for its innovative mobile channel protection solutions, has achieved a milestone with its Virtual Trusted Execution Environment (vTEE) receiving approval from EMVCo for both Android and iOS platforms. This is a groundbreaking achievement, as Licel vTEE stands as the first and only Trusted Execution Environment approved by EMVCo across the two major mobile operating systems, promising enhanced security for mobile applications.

What Does This Mean?

The approval signifies that developers can confidently implement Trusted Applications (TAs) across both platforms without the stress of security concerns. With the increasing reliance on mobile payments and applications, this validation brings a sense of reassurance to developers, allowing them to focus on innovation without compromising security.

Licel vTEE addresses the pressing security needs of a rapidly evolving mobile payments landscape, projected to reach a staggering $221.2 billion by 2030. Licel's solution, designed to be flexible, developer-friendly, and scalable, extends its applicability beyond mobile payments, catering to any sector requiring robust security measures for sensitive operations performed through mobile applications.

Insights from Licel's Leadership

Mikhail Dudarev, co-founder and CTO of Licel, expressed his excitement following the EMVCo approval, mentioning, "As a company, we've dedicated the last 13 years to achieving excellence in mobile security, and to have that vision validated by an esteemed organization like EMVCo is truly gratifying." He underscored the critical nature of sophisticated security approaches like vTEE, especially in an era where cyber threats are becoming increasingly advanced.

Dudarev also emphasized that the design of vTEE was intended to alleviate security burdens for engineers and developers. Notably, its cross-platform compatibility and absence of hardware dependencies enhance deployment efficiency, freeing developers from hardware vendor lock-in issues. The vTEE also allows for customized Trusted Applications, thereby enabling additional functionalities tailored to specific security needs.

EMVCo's Role in Mobile Security

EMVCo, a technical consortium owned by major credit card companies including American Express, Discover, JCB, Mastercard, UnionPay, and Visa, plays a pivotal role in shaping standards for mobile payment security. Their stringent Security Evaluation Processes are crucial for software-based mobile payment solutions. According to Jose Ruiz, the Cybersecurity BU Director at Applus+ Laboratories—the laboratory that evaluated the Licel vTEE—this approval is a remarkable feat. He noted, "The evaluation process for EMVCo SBMP TEE is rigorous, and to have accomplished the evaluation for both platforms within a single year is a rare achievement. We are excited to see innovative solutions like Licel's vTEE passing this demanding process and entering the market."

Looking Ahead

As the mobile landscape continues to evolve, the need for stringent security measures is paramount. With Licel's vTEE paving the way for enhanced mobile security across platforms, the future looks promising for both developers and users in the mobile application ecosystem. The seamless integration of security into app development not only fosters innovation but also safeguards sensitive operations, thereby boosting user confidence in mobile transactions.

In conclusion, Licel's achievement of EMVCo approval for its vTEE on both Android and iOS platforms marks a pivotal moment in the quest for mobile security excellence. This advancement solidifies Licel's position as a frontrunner in the mobile protection solutions landscape and promises to redefine how security is perceived in mobile app development.

For more information about Licel and its innovative security solutions, please visit their official website.