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Press Releases
Sequent Software releases neutral NFC payment platform
Louisville, KY, December 13, 2011, Mobile Payments Today
--Sequent Software, a San Francisco-based provider of NFC software and services, announced its new, so-called "neutral platform." The platform provides a combination of products that allow any member of the payment ecosystem, from mobile network operators to card issuers to app developers, to deliver an NFC-based mobile payment experience to consumers.
According to the company, the platform will help speed the commercialization of NFC payments to the market.
"Today, we're launching a solution that unlocks the potential of NFC," said Drew Weinstein, Sequent's CEO.
According to the company's statement, at the heart of the new platform is Sequent's Secure Element Management platform. The SE is what holds payment card information safely on the mobile device. Sequent said its platform will let the "owner" of the SE, for instance a mobile network operator, onboard and manage a consumer's accounts on the mobile device. Sequent said its solution is unique in that it focuses on the management of accounts, not the issuance of the account-level data.
Additionally, Sequent said its solution supports any SE form factor or issuer type, whether it's a payment, transit or loyalty account.
Working with the SE management platform, Sequent's Issuer Plug-in tool gives card issuers the ability to provision a mobile device over the air while maintaining their existing issuing systems.
Sequent said the combination of the Secure Element Management platform and the Issuer Plug-in provides a truly neutral solution that lets mobile and issuing parties focus on their core businesses and still provide an NFC payment service.
Along with managing the SE and providing a provisioning solution, Sequent's platform also adds a mobile wallet. The Sequent Wallet allows the payment provider to have its own discrete, branded application for consumers to use on their devices.
"Our platform was built from the ground up to capitalize on the evolution of the physical world to the mobile world," Weinstein said. "We don't have to play by the same rules as the legacy providers, and our technical innovation and business model reflect this."