Generating Technologies for the Future

What is a secure element

This is an extension of a standard Mobile Phone SIM card, using the same physical format and build logic, but with added functionalities for :
Memory capacity : we add upto 1MB of additional memory to the chip. General mobile SIM cards are about 32/64k of memory only.
Data storage security : we can enable storage of user data on the secure element by encrypting the same and storing it a “secure vault” accessible only against a password + access key, unique to every secure element.
EMV capability : Globally, the EMV (Euro Master Visa and including JCB and Eurocard) have defined advanced banking grade secure transactions on cards / terminals and online gateways. Our secure element meets these specifications.
Data encryption / decryption : using 3DES secure technology : Banking grade security on data storage and used for handling data IN/OUT from the secure element to the external servers.
An Active Operating system :which lets us run applications on the secure element, update them for parameters and also data updates on the data itself within the secure element.
An Over The Air (OTA) communication capability : we can access the apps and the data on the secure element using SMS or the data channel from the GSM network.
The above when brought into the secure element and with the ability to communicate with a base GSM SIM in a user handset, gives an environment to host banking grade secure applications. These banking / secure transaction applications , installed on this secure element, can then be offered to customers directly by the service providers and be installed on any handset using any network provider.