V-Key

Last updated
V-KEY
TypePrivate
IndustryB2B, mobile security, cybersecurity, deep technology
Founded2011
HeadquartersSingapore,
Singapore
Key people
Eddie Chau (Co-founder and Chairman), Benjamin Mah (Co-founder), Joseph Gan (Co-founder and President), Er Chiang Kai (CTO)
Services Mobile security, digital security, cryptography, software authentication
Number of employees
51 - 100 (2017)
Website www.v-key.com

V-Key is a software-based digital security provider. Headquartered in Singapore, it provides products to financial institutions, mobile payment providers and governments to implement cloud-based payments, authentication for mobile banking, and secured mobile applications for user access and data protection. [1] [2]

Contents

Background & founders

V-Key was founded in 2011 by entrepreneurs Eddie Chau, Benjamin Mah and Joseph Gan. Eddie Chau, who are the founders of digital agency Brandtology, [3] acquired by iSentia in 2014, started V-Key primarily to secure mobile devices and applications with patented technology. [4] [5]

Benjamin Mah is the co-founder and chief executive officer of V-Key. He was general manager at e-Cop (acquired by a wholly owned subsidiary of Temasek Holdings) and regional director at Encentuate (acquired by IBM), before he co-founded V-Key. [6] He is a concurrently venture partner of Venture Craft, chairman of Jump Start Asia and a mentor at UOB Finlabs. [7]

Joseph Gan is the third co-founder of V-Key. Before joining V-Key, he was at the Center for Strategic Info comm Technologies (CSIT) as the head of the Cryptography Lab, where he oversaw research and development into cryptographic software for the Ministry of Defence (Singapore). [8] [9]

Companies that have funded V-Key are IPV Capital and Ant Financial Services, which runs the Alipay mobile wallet app. [10] [11]

Technology

V-Key provides security to businesses to support cloud-based payments, digital identity and authentication for mobile banking as well as other secured mobile applications [11] [12] via its core technology—V-OS.

V-Key's partners are financial institutions, governments and mobile payment providers in various markets. [13] Its technology has been used by:

See also

Related Research Articles

<span class="mw-page-title-main">Tokenization (data security)</span> Concept in data security

Tokenization, when applied to data security, is the process of substituting a sensitive data element with a non-sensitive equivalent, referred to as a token, that has no intrinsic or exploitable meaning or value. The token is a reference that maps back to the sensitive data through a tokenization system. The mapping from original data to a token uses methods that render tokens infeasible to reverse in the absence of the tokenization system, for example using tokens created from random numbers. A one-way cryptographic function is used to convert the original data into tokens, making it difficult to recreate the original data without obtaining entry to the tokenization system's resources. To deliver such services, the system maintains a vault database of tokens that are connected to the corresponding sensitive data. Protecting the system vault is vital to the system, and improved processes must be put in place to offer database integrity and physical security.

<span class="mw-page-title-main">Hardware security module</span> Physical computing device

A hardware security module (HSM) is a physical computing device that safeguards and manages secrets, performs encryption and decryption functions for digital signatures, strong authentication and other cryptographic functions. These modules traditionally come in the form of a plug-in card or an external device that attaches directly to a computer or network server. A hardware security module contains one or more secure cryptoprocessor chips.

First Data Corporation is a financial services company headquartered in Atlanta, Georgia, United States. The company's STAR Network provides nationwide domestic debit acceptance at more than 2 million retail POS, ATM, and at online outlets for nearly a third of all U.S. debit cards.

<span class="mw-page-title-main">Gemalto</span> International digital security company

Gemalto was an international digital security company providing software applications, secure personal devices such as smart cards and tokens, e-wallets and managed services. It was formed in June 2006 by the merger of two companies, Axalto and Gemplus International. Gemalto N.V.'s revenue in 2018 was €2.969 billion.

<span class="mw-page-title-main">Euronet Worldwide</span> Electronic payments company

Euronet Worldwide is an American provider of global electronic payment services with headquarters in Leawood, Kansas. It offers automated teller machines (ATM), point of sale (POS) services, credit/debit card services, currency exchange and other electronic financial services and payments software. Among others, it provides the prepaid subsidiaries Transact, PaySpot, e-pay, Movilcarga, TeleRecarga and ATX.

Alipay is a third-party mobile and online payment platform, established in Hangzhou, China in February 2004 by Alibaba Group and its founder Jack Ma. In 2015, Alipay moved its headquarters to Pudong, Shanghai, although its parent company Ant Financial remains Hangzhou-based.

Wirecard AG is an insolvent German payment processor and financial services provider whose former CEO, COO, two board members, and other executives have been arrested or otherwise implicated in criminal proceedings. In June 2020, the company announced that €1.9 billion in cash was missing. It owed €3.2 billion in debt. In November 2020, the company was dismantled after it sold the assets of its main business unit to Santander Bank for €100 million. Other assets, including its North American, UK and Brazilian units had been previously sold at nondisclosed prices. The company offered electronic payment transaction services and risk management, and issued and processed physical and virtual cards. As of 2017, the company was listed on the Frankfurt Stock Exchange, and was a part of the DAX stock index from September 2018 to August 2020.

<span class="mw-page-title-main">Entrust</span>

Entrust Corp., formerly Entrust Datacard, provides software and hardware used to issue financial cards, e-passport production, user authentication for those looking to access secure networks or conduct financial transactions, trust certificated for websites, mobile credentials, and connected devices. The privately-held company is based in Shakopee, Minnesota and employs more than 2,500 people globally.

<span class="mw-page-title-main">ACI Worldwide</span> American payment systems company

ACI Worldwide Inc. is a payment systems company headquartered in Miami, Florida. ACI develops a broad line of software focused on facilitating real-time electronic payments. These products and services are used globally by banks, financial intermediaries such as third-party electronic payment processors, payment associations, switch interchanges, merchants, corporations, and a wide range of transaction-generating endpoints, including automated teller machines ("ATM"), merchant point of sale ("POS") terminals, bank branches, mobile phones, tablet computers, corporations, and internet commerce sites.

<span class="mw-page-title-main">Stripe, Inc.</span> Irish-American payment technology company

Stripe, Inc. is an Irish-American financial services and software as a service (SaaS) company dual-headquartered in South San Francisco, California, United States and Dublin, Ireland. The company primarily offers payment-processing software and application programming interfaces for e-commerce websites and mobile applications.

<span class="mw-page-title-main">Arxan Technologies</span> US technology security company

Digital Ai is an American technology company specializing in anti-tamper and digital rights management (DRM) for Internet of Things (IoT), mobile, and other applications. Arxan's security products are used to prevent tampering or reverse engineering of software, thus preventing access or modifications to said software that are deemed undesirable by its developer. The company reports that applications secured by it are running on over 500 million devices. Its products are used across a range of industries, including mobile payments & banking, automotive, healthcare and gaming.

A trusted execution environment (TEE) is a secure area of a main processor. It helps code and data loaded inside it to be protected with respect to confidentiality and integrity. Data integrity prevents unauthorized entities from outside the TEE from altering data, while code integrity prevents code in the TEE from being replaced or modified by unauthorized entities, which may also be the computer owner itself as in certain DRM schemes described in SGX. This is done by implementing unique, immutable, and confidential architectural security such as Intel Software Guard Extensions which offers hardware-based memory encryption that isolates specific application code and data in memory. Intel SGX allows user-level code to allocate private regions of memory, called enclaves, which are designed to be protected from processes running at higher privilege levels. A TEE as an isolated execution environment provides security features such as isolated execution, integrity of applications executing with the TEE, along with confidentiality of their assets. In general terms, the TEE offers an execution space that provides a higher level of security for trusted applications running on the device than a rich operating system (OS) and more functionality than a 'secure element' (SE).

Ant Group, formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group. The group owns the world's largest mobile (digital) payment platform Alipay, which serves over 1.3 billion users and 80 million merchants, with total payment volume (TPV) reaching ¥118 trillion RMB in June 2020. It is the second largest financial services corporation in the world, behind Visa. In March 2019, The Wall Street Journal reported that Ant's flagship Tianhong Yu'e Bao money-market fund was the largest in the world, with over 588 million users, or more than a third of China's population, contributing cash to it.

<span class="mw-page-title-main">PayU</span> Fintech company that provides payment solutions to online merchants.

PayU is a Netherlands-based payment service provider to online merchants. The company was founded in 2002, and is headquartered in Hoofddorp. It allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications. As of 2018, the service is available in 17 countries. The firm is owned by the Naspers Group, which also owns a stake in one of its sister companies, Tencent.

A cryptocurrency wallet is a device, physical medium, program or a service which stores the public and/or private keys for cryptocurrency transactions. In addition to this basic function of storing the keys, a cryptocurrency wallet more often offers the functionality of encrypting and/or signing information. Signing can for example result in executing a smart contract, a cryptocurrency transaction, identification or legally signing a 'document'.

Nium is a Singapore-headquartered cross-border payments company. Initially founded by Prajit Nanu and Michael Bermingham, and launched as consumer-remittance platform Instarem in 2014. In 2016, the company introduced its B2B payments platform and rebranded as Nium in 2019, subsequently elevating Pratik Gandhi to co-founder in 2021.

Entersekt is a Stellenbosch, South Africa-based fintech provider of mobile-based authentication and app security software protecting online and mobile banking and transactions.

QR code payment is a contactless payment method where payment is performed by scanning a QR code from a mobile app. This is an alternative to doing electronic funds transfer at point of sale using a payment terminal. This avoids a lot of the infrastructure traditionally associated with electronic payments such as payment cards, payment networks, payment terminal and merchant accounts.

Contactless dining is a restaurant dine-in experience that allows a guest to view the menu, place orders, and make payments without interacting closely with a server or touching shared public surfaces. The form of dining has emerged in global popularity during the COVID-19 pandemic.

Current is a New York City-based financial services and software development company (FinTech). It provides mobile banking services through its partner bank, Choice Financial Group, Member FDIC.

References

  1. ↑ "Ant Financial, V-Key Partner On Mobile Security | PYMNTS.com". www.pymnts.com. Retrieved 2017-03-20.
  2. ↑ "Securing and extending the digital economy with trust and user experience". Singapore Business Review. Retrieved 2017-03-20.
  3. ↑ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2017-03-20.
  4. ↑ "Eddie Chau: Executive Profile & Biography - Bloomberg". www.bloomberg.com. Retrieved 2017-04-09.
  5. ↑ Ping, Foo Boon. "Interview: "Convenient security without compromise"". The Asian Banker. Retrieved 2017-04-09.
  6. ↑ "Benjamin Mah: Executive Profile & Biography - Bloomberg". www.bloomberg.com. Retrieved 2017-04-09.
  7. ↑ "The new digital economy where software security and convenience meet". www.sis.smu.edu.sg. Retrieved 2017-03-20.
  8. ↑ "Joseph Gan: Executive Profile & Biography - Bloomberg". www.bloomberg.com. Retrieved 2017-04-09.
  9. ↑ "Singapore based V-Key secures US$4M in Series A funding from IPV Capital". e27. Retrieved 2017-03-20.
  10. ↑ Russell, Jon (2012-09-26). "Mobile Security Startup V-Key Closes $4 million Series A Round". The Next Web. Retrieved 2017-03-20.
  11. 1 2 migration (2014-11-18). "Alibaba unit takes stake in Singapore-based mobile security software firm V-Key". The Straits Times. Retrieved 2017-04-10.
  12. ↑ "V-Key raises $12m in Series B from Alipay arm - DealStreetAsia". www.dealstreetasia.com. Retrieved 2017-03-20.
  13. ↑ Lee, Jamie. "Alibaba-backed S'pore firm has key to new mobile security lock". The Business Times. Retrieved 2017-04-10.
  14. ↑ Inc., V-Key. "ChinaPnR and V-Key Strategic Alliance -- Securing over 1 Million Merchants". www.prnewswire.com. Retrieved 2017-03-20.{{cite web}}: |last= has generic name (help)
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.