Singaporean startup V-Key partners with Ant Financial to secure mobile payments
Global digital security startup V-Key has announced a collaboration with Ant Financial Services Group.
In 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.
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.
Benjamin Mah, co-founder and CEO 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 was founded in 2011, and has services in Singapore – where it is headquartered – as well as 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.
V-OS is the world’s first virtual secure element. With V-OS, card and cardholder data is 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. Its mobile security solution works on both iOS and Android devices.
Jason Lu, Vice President of Fraud Risk Management at Ant Financial, added,”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.”