Sequent Announces Major Expansion of Tokenized Touchless Payments Services in ASEAN Region with Virtusa
Sequent Inc., the pioneer in securing digital credentials on smartphones, announces the launch of a suite of products and services that allow Issuing Banks to instantly and securely provision payment cards on mobile devices. With Sequent’s technology, consumers can wave their mobile device at the point of sale and never touch the reader when making a transaction.
Sequent’s secure banking apps enable touchless mobile transactions to drive banks’ top-line revenue, deliver lift in transaction volume and reduce costs. Sequent’s Tokenization Technology is a formidable fraud prevention tool which economically and securely enables NFC capability.
Sequent’s Tokenization Technology seamlessly integrates with Virtusa’s Core Banking services. The Virtusa Sequent relationship enables banks to begin testing within a week and enter production in as little as three months with a fully branded, fully scheme certified touchless payment capability.
“Our relationship with Sequent enables Virtusa customers to instantly issue the secure payment cards for our bank customers,” said Amit Bhute, SVP and global head of payments, Virtusa. “With contactless payments, consumers never have to touch a terminal and they have the enhanced security of Sequent’s Tokenized Technology Suite.”
Sequent, CEO Joan Ziegler said, “We have a great partner in Virtusa at the right time to address the needs of the ASEAN region. Virtusa’s digital banking solutions conveniently put consumers’ payment card data on their bank customers’ mobile devices. This is urgently needed during pandemic times, so consumers have peace of mind when they make a payment knowing that they need never touch the payment terminal and they have transacted securely. In the event of a data breach, Sequent’s Tokenization Technology prevents fraudsters from using the genuine cardholder’s data because the compromised data is invalidated so it is of no value to a fraudster. Meanwhile the genuine cardholder’s data is seamlessly updated and secured so they continue to shop without disruption.”