The global payments body has evaluated and approved Licel’s groundbreaking virtual trusted execution environment for both Android and iOS, marking a new era in mobile security.
LONDON, Nov. 27, 2024 /PRNewswire/ — Licel, a pioneer in mobile channel protection solutions, has today announced that its Virtual Trusted Execution Environment (vTEE) has been evaluated and approved by EMVCo* for the iOS platform. That means the Licel vTEE – currently the only TEE of any kind approved by EMVCo – is now certified for both major mobile platforms.
The upshot of this approval is that developers can confidently use Trusted Applications (TA) for both Android and iOS. They can focus on engineering, safe in the knowledge that their application’s security has been taken care of.
The Licel vTEE is already providing this peace of mind for innovative, forward-thinking companies in sectors such as mobile wallets and SoftPOS. Enhanced security is vital in a mobile payments industry that is predicted to be worth $221.2 billion by 2030. The vTEE’s flexible, developer-friendly, and scalable approach means that it can also be used across other verticals in need of a security solution to protect the most sensitive operations that mobile apps carry out.
Licel co-founder and CTO, Mikhail Dudarev, is delighted with the news that the Licel vTEE is now evaluated and approved for both Android and iOS:
“As a company we’ve dedicated the last 13 years to the pursuit of excellence in mobile security, and so to have that vision validated by a respected organization like EMVCo is a great feeling,” he said. “Cyber threats are more advanced than ever, and so a sophisticated approach to security (like the vTEE provides) is a must. But we were also determined when creating the vTEE that it should take the stress out of security for engineers. That’s why we designed it to be cross-platform compatible, with no hardware dependency. There’s also no hardware vendor lock-in, which makes for easier deployment, and the vTEE allows for custom Trusted Applications with enhanced functionality to be run, too.”
EMVCo is a global technical body that is collectively owned by American Express, Discover, JCB, Mastercard, UnionPay, and Visa. It plays a vital role in setting Security Evaluation Processes for companies with software-based mobile payment (SBMP) solutions.
The EMVCo SBMP TEE evaluation process is a demanding one, with stringent requirements driven by Global Platform TEE standards. That’s why Jose Ruiz, Cybersecurity BU Director of Applus+ Laboratories – the laboratory responsible for evaluating the Licel vTEE – is so impressed that the solution has been evaluated and approved twice in 2024:
“Early this year we evaluated the Licel vTEE for the Android platform under EMVCo SBMP TEE. The fact that less than a year later we did the same thing for the iOS platform is remarkable and an extraordinary achievement both for Licel and Applus+ Laboratories. We are thrilled to see innovative solutions like Licel’s vTEE successfully completing the security evaluation process and becoming available in the market.”
*EMVCo issuance of a certificate for the Product shall mean only that the Product has been evaluated in accordance and for sufficient conformance with the EMV Security Guidelines for TEE-based Mobile Payment as of the date of evaluation. EMVCo’s certificate is not in any way an endorsement or warranty regarding the completeness of the security evaluation process or the security, functionality, quality or performance of any particular product or service. EMVCo does not warrant any products or services provided by third parties, including, but not limited to, the producer or provider of the Product and EMVCo approval does not under any circumstances include or imply any product warranties from EMVCo, including, without limitation, any implied warranties of merchantability, fitness for purpose, or non-infringement, all of which are expressly disclaimed by EMVCo. All rights and remedies regarding products and services which have received EMVCo approval shall be provided by the party providing such products or services, and not by EMVCo and EMVCo accepts no liability whatsoever in connection therewith.
About Licel
A global leader and innovator in mobile channel protection, Licel’s security solutions are active in 75 countries, securing thousands of apps and SDKs on more than 500 million devices.
About Applus+ Laboratories
Applus+ Laboratories is a global leader in the testing, inspection and certification sector. Its IT laboratories specialize in providing security and functional evaluations for IT products and secure technologies.
For more details, contact Tom Cross, Head of Content and Communications at Licel.
+44 2032 894 888
SOURCE Licel Corporation
