V-Key Partners with Ant Financial To Secure Mobile Payments

V-Key Partners with Ant Financial To Secure
Mobile Payments

·        Singapore-based V-Key works with global payments and e-commerce companies,
banking and financial institutions and government bodies to protect the
personal and financial data of their mobile customers. 

·        Its technology has already secured over 30 million mobile
wallets internationally.

Singapore/Hangzhou, China, 14 November,
2016 – V-Key, a global leader in digital security, and Ant Financial Services
Group, the leading global tech company that provides online and mobile
financial solutions, have entered into a collaboration. Under the partnership,
V-Key will provide a virtual software solution called V-OS for Ant Financial to help secure transactions on AliExpress, one of Alibaba Group’s
international retail ecommerce platforms. (Ant Financial is a related company
of Alibaba Group). V-Key will also provide cryptographic services and trusted
environments to help secure payments processed by Alipay on AliExpress, along
with risk management for each transaction.

V-OS, which is currently deployed by top
banks, mobile payment providers, and governments globally, is the world’s first
virtual secure element. With V-OS, card and cardholder data will be encrypted,
providing for more secure user authentication. V-Key’s solutions allow businesses to roll out
cloud-based payments, trusted digital identity and authentication necessary for
mobile banking and other secured mobile applications. V-Key brings advanced
user data protection to its partners, without the need to use any form of
hardware secure elements, which can be less secure. Its mobile
security solution works on both iOS and Android devices. 

Speaking on the pressing need for V-Key’s
fast-growth, as well as its mission to work with its partners to secure mobile
transactions against fraudulent activities, Benjamin Mah, co-founder and Chief
Executive Officer of V-Key said: “With the rapid
uptake in mobile payments, e-commerce threats are becoming smarter, bigger,
more sophisticated. They pose a threat not just to end-users, but also to the
reputation of our partners. To stay ahead, V-Key has invested considerable time
and effort to build the world’s leading virtual mobile cybersecurity suite of
solutions. With our all-in-one virtual element V-OS, we look to future proof
mobile wallets against advanced threats by protecting end-user information. In
doing so, we look to create a safer transaction environment for our
fast-growing number of partners.”

V-Key’s solutions are certified by leading
industry bodies including FIPS 140-2 (USA) and Info-communications Media
Development Authority of Singapore. It has been rigorously stress tested by the
likes of global analysts, e-commerce players, government agencies and
regulatory bodies globally, including Ant Financial, Core Security
Technologies, UL Transaction Security, MWR InfoSecurity, Quarkslab, Upyun,
Vantage Point Security, Resolvo Systems among others. 

Jason Lu, Vice President of Fraud Risk
Management at Ant Financial, said,”As more users opt for mobile payments,
account safety assumes utmost importance. V-Key’s unique technology helps us
deploy our risk engine to enhance mobile security. The partnership is part of
our commitment to secure our services. In the process, we are enabling more and
more businesses and partners to expand their global market reach.”

V-Key was founded in 2011, and has services in
Singapore – where it is headquartered – as well as key markets across
Asia-Pacific and the US. Through its partners, including Ant Financial as well
as some of the leading banking and financial institutions and government
agencies, it has already amassed over 30 million end-users.