FINTECH LEADERS SEQUENT AND TIS SELECTED BY MAJOR JAPANESE BANK AND LEADING CARD ISSUER TO DELIVER SECURE MOBILE PAYMENTS
Two Japanese financial services leaders to deploy secure mobile payment tokenization
Sequent, Inc. today announced that Sequent and TIS Inc. in Japan have been selected by a Japanese megabank and a major payment card issuer to provide tokenized mobile payment applications enabled by Sequent Platform. The Sequent Platform orchestrates and manages the digital issuance and tokenization of any type of personally identifiable credential to any type of connected device, such as payment account, financial account or identification information. Sequent secures mobile data by tokenizing Personal Identifiable Information (PII), rendering the data useless to cybercriminals while providing a frictionless customer experience.
TIS is a member of the TIS INTEC Group based in Tokyo, Japan, and provides payment processing, integration services and IT solutions from its data centers in Japan, Indonesia, Malaysia, Singapore, Thailand, and the Asian region. TIS serves 3,000 customers across Japan, China and the ASEAN region spanning finance, manufacturing, distribution/service, public services and communications.
“We are excited to work with Sequent as our strategic partner in the mobile payments arena and we eagerly anticipate the upcoming launch of our WalletEVO, a customized token requester agency, for two industry-leading partners in the banking and credit card industries,” said Ken Nakamura, Department Manager of Digital Transformation Services Planning Dept. at TIS. “With Sequent Platform and WalletEVO we have created a secure mobile payments solution using HCE tokenization that can securely store payment ID information in devices including wearable terminals and IoT devices, as well as smartphones.”
Sequent Platform’s tokenization, management, and orchestration services will provide TIS’s WalletEVO for mobile digital wallet operators under the auspices of a megabank and a major credit card issuer which both operate in the Japanese market. WalletEVO also tokenizes payment and card information and uses encryption to securely store data even in the event of a lost smartphone. WalletEVO allows consumers to use their mobile phones to make payments at contactless terminals, within Apps and for eCommerce transactions.
“We are pleased to partner with TIS to provide Sequent Platform’s state-of-the-art tokenization technology with TIS’s WalletEVO to improve consumer confidence in mobile payments. We are very happy that TIS and its customers entrust their transactions to our technology,” said Joan Ziegler, CEO of Sequent.