The San Francisco mobile person-to-person money transfer company Obopay Inc. is using encryption hardware from the Baltimore vendor SafeNet Inc. to accelerate its transaction processing capabilities.
SafeNet said Monday that Obopay has installed its payment hardware security module to encrypt and decrypt the financial information it sends to banking companies when users send each other money.
The hardware system is more secure than software that offers comparable capabilities, SafeNet said.
It also said that its modules can process up to 1,200 transactions per second, while some encryption products available from other vendors run much slower — sometimes at around 20 transactions per second.
