Rivetz announced it will be demonstrating at Mobile World Congress the most advanced mobile solution for e-commerce transactions, leveraging the built-in hardware security already shipping on most commercial handsets.
The Mobile World Congress will be held in Barcelona, Spain from 2 to 5 March, 2015.
Rivetz, in partnership with BitPay, will be demonstrating a simple-to-use, open-source payments technology compatible with any Trustonic-enabled smart device.
The solution is compatible with many thousands of Bitcoin merchants, offering consumers peace of mind that their Bitcoin transactions are safe, private and secure.
Rivetz’s technological solution meets all of the requirements of the recently implemented regulations for European payments using smart devices.
The Rivetz solution takes advantage of the Trustonic TEE environment built into millions of smart devices to provide the trusted execution space for storing and processing Bitcoin private keys.
The solution also takes full advantage of the Trusted User Interface (TUI) for secure PIN entry and secure display of the users’ transaction details.
Rivetz uses Intercede’s MyTAMTM cloud service to securely load the bitcoin wallet into the TEE to protect the app and the data it accesses from threats that may be present on the handset.
The solution will be available in the second quarter of 2015 and is compatible with over 350 million existing Android devices, including Samsung smartphones.
“Rivetz is delivering state-of-the-art support that will help Bitcoin be a standard, secure capability on every handset,” commented Tony Gallippi, Co-Founder and Executive Chairman of BitPay. “We look forward to enabling the Rivetz capability as an option for millions of Bitcoin users.”
“We are pleased to be working with Rivetz to bring state-of-the-art security and ease-of-use to consumers,” said Ben Cade, Trustonic’s CEO. “The Rivetz team is offering a great model for any app developer to leverage the advanced security that Trustonic TEE provides.”
Intercede CEO Richard Parris added: “Apps used for executing Bitcoin transactions are an attractive target for hackers, who are developing increasingly advanced methods to deploy their malware onto Android handsets. By ensuring the activities of apps are kept separate and secure from the main OS, end users can be assured their Bitcoin transactions are protected.”
Rivetz provides a software developer toolkit to enable any cryptocurrency or payment app to take advantage of Rivetz’s capabilities.