Cloud-based app technology company appMobi has released a new payment technology that it says revolutionises the security of mobile payments.
The companys cloudKey authentication system, combined with 1Touch – a single-touch payment system designed for use on mobile devices – stores credit card details locally on the consumers device. This, the company says, eradicates the opportunity for thieves to steal multiple credit card records with a single hack.
Instead of a centrally-managed credit card database, the cloudKey system stores authentication keys in the cloud. Credit card details are stored locally on the mobile device, and encrypted in the 256bit Advanced Encryption Standard. When a purchase is made, the app requests the encryption key to unlock payment details.
“appMobis engineers have long recognised that securing a centralised database is basically impossible – if its online, its vulnerable to break-in… theres no way around it,” says Sam Abadir, appMobis CTO. “The real breakthrough of cloudKey is the distributed key data model – we dont store anything of value in a centralised database, so there is nothing of value online for thieves to steal.
Abadir says the system makes hacking devices a relatively futile practice. “Even if they could steal appMobis entire crypto key database and a users device, theyd then have to guess the users password, and at most they could get only one credit card number. It would be a huge expenditure of effort for very little gain. By keeping private data local on the device, cloudKey makes massive security losses like the recent 77m-account Sony PlayStation network breach impossible.”
The companys 1Touch payment system aims to make mobile payment as easy as Amazons patented 1Click payment system. It integrates with PayPal, Authorize.net, and other carrier billing services.
“The buying experience on iPhones is so frictionless that consumers are spending like never before,” says Abadir. “1Touch was designed to put the web, whether mobile or desktop, on a level playing field with Apples in-app purchasing system when it comes to e-commerce.”
Developers who would like to try the 1Touch system can visit the appMobi website for documentation, sample code, sample apps and instructional videos.