SideTap to deliver MicroSD-Based Contactless Mobile Payments

First Data, a global leader in electronic commerce and payment processing has announced an agreement with Tyfone, a provider of mobile contactless payment and secure mobility solutions. The collaboration will provide SideTap micro secure digital (MicroSD) memory cards equipped with Tyfone’s patented technologies that will transform most mobile phones with a memory slot into a mobile contactless payment device.

Unlike solutions that are tied to specific merchants or financial institutions, the MicroSD card powered by Tyfone technology lets the card work like an actual mobile “wallet.” The card can contain financial information and secure identification from multiple sources, such as specific retailers or financial institutions in both open loop and closed loop scenarios.

SideTap card’s onboard controller that manages over-the-air (OTA) access in conjunction with the u4ia® (pronounced euphoria) mobility platform is fully expandable, allowing consumers to add new payment and identity options, creating a true mobile wallet that is as flexible as the card provider would like it to be. Through this agreement, First Data will provide merchants and financial institutions with Tyfone’s patented SideTap secure memory card and u4ia mobility platform for OTA life cycle management.

The SideTap card can retain memory card functions, so consumers can continue to utilize the card as they normally would, to store photos, videos, music, documents, or other files. An embedded SmartMX security chip from NXP Semiconductors is safeguarding all transactions operated on the MicroSD card.