PORTLAND, Ore. – OnPoint Community, the state’s largest credit union, has selected Tyfone’s u4ia platform as the infrastructure behind its mobile banking strategy.
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The $2.8 billion credit union will leverage Tyfone’s professional services to deploy robust mobile banking services initially, then NFC contactless mobile payment capabilities.
While the current industry model for implementing mobile payments relies on wireless operators and handset manufacturers to integrate Near-Field Communications chips into new handset models, Tyfone’s technology overcomes this barrier by integrating the Secure Element, an NFC contactless chip and antenna on standard Secure Digital memory cards. Using a secure memory card as the SE fosters a better operator – bank cooperation, allowing memory card-enabled phones to become instantly capable of highly secure transactions and contactless payments.