Visa is investing in MagicCube, a payments-security fintech focused on enabling devices like smartphones to accept payments.
Inside any point-of-sale device — be it a sleek Square terminal, traditional Verifone keypad, and even a kiosk at a movie theater — there are expensive and bulky security measures built into the hardware. From various security chips and even a gold-mesh layer under the keypad to prevent tampering, there are limitations to the actual hardware required to process payments.
Shawki, who was previously head of remote payments at Visa, left the card giant in 2014 to build MagicCube. His co-founder and wife, Nancy Zayed, is the fintech's CTO and was formerly an engineer at Apple. "We basically built something that can replace a SIM card or a chip or a payment device. These are all physical containers, like a physical safe you have at home," Shawki said.
"When we started to pitch this as pure security for cars, we had a few projects with the likes of Honda and others, but none of them were ready and eager to use us commercially like Visa and Mastercard were," Shawki said.MagicCube isn't the only one eyeing software-based payments, which enables iPhones to become payment-accepting devices.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Corporations say 'Black lives matter' but invest in oppressive systems - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. willinabucket It's popular to be 'woke' in 2020. Companies do it to attract customers and everyday individuals do it to emphasize their 'righteousness'. willinabucket Chorprecha! willinabucket Noname some one tag her for me, and other ignorant folks.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
Stock picks to buy, investing strategy for a Trump election win: RBC - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Can't read article They simply dont have another options
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
Apple apologizes to WordPress after App Store payments dispute - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. ✊ WordPress
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
An insider look at the pitch deck used by open-source platform Almanac - Business InsiderPRESENTING: We got an exclusive look at the pitch deck open-source platform Almanac used to raise $9 million in funding. The CEO breaks it down and gives his advice for entrepreneurs to perfect their pitch. Pakistan ISI Pakistan Army will wipe out generations of all Israeli Jews in the world. Like Hitler, Pakistan will execute all Israeli Jews. People will forget Hitler. Another history will be written about Pakistan Pakistan can destroy Israel in 12 minutes
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
How to pay rent and launch a business as a professional dog walker - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »
Top business news: Salary comparison, Amazon's leadership, Operation Warp Speed - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »