Mobile World Congress is only a few short days away and already announcements are being made about all sorts of hardware and software innovations. One such new product will be a secure new solution to make mobile payments on your Android device. Rivetz will be showcasing an easy open-source payment solution that you can use to make secure payments using Bitcoin. This technology is usable by any Trustonic-enabled device.
This service, set to launch in the second quarter of 2015, will enable Android users to pay using their Bitcoins for thousands of merchants. This new technology meets all recent regulations for European payments that use mobile devices so that users can be assured that their payments and their Bitcoins will remain safe, private, and secure. According to Tony Gallippi, Co-Founder and Executive Chairman of BitPay, "Rivetz is delivering state-of-the-art support that will help Bitcoin be a standard, secure capability on every handset."
So how does this new technology work? Rivetz uses the Trustonic Trusted Execution Environment (TEE) that is built into millions of mobile devices which will provide a secure and trusted space to process and store Bitcoin payments and private keys. It also uses the Trusted User Interface (TUI) to secure PIN entry and display of a person's transaction information. This allows Intercede's MyTAM cloud service to load the Bitcoin into the TEE so that it is protected from any threats that may be on a user's mobile device.
Rivetz is offering a developers software kit for TEE-enabled Bitcoin applications. This toolkit will allow developers who are currently making or maintaining cryptocurrency wallets to integrate these highly secure features in their own applications. Developers can go to Rivetz's website and receive tools or obtain more information.
With mobile electronic payments are one of the hottest topics of the year. With Google, Apple, Samsung and others all biding for a share of the pie, we can see more solutions such as this to become more common. With this new secure solution for the Bitcoin and cryptocurrency space, we can expect that these forms of payments will become more common as time goes on. Rivetz's solution is one of the most secure forms of mobile payments currently available. It keeps applications for payments secure from the rest of the main Android environment, helping to mitigate some of the risk from malware and ensure that a user's Bitcoin transactions are kept safe and secure and very well protected. Do you currently use your mobile device to make payments at merchants? Does a more secure environment encourage you to use these methods of payment or to use alternative forms of currency? Let us know on out G+ page or make a comment below, we would love to hear from you.