Android App Beats Apple Pay to Secure Bitcoin Mobile Payments

By Inside Bitcoins Feb 26, 2015 8:26 AM EDT

NEW YORK (InsideBitcoins) — Secure bitcoin payments could be in the hands of over 350 million smartphone users with the launch of a new Android app. Rivetz, a security solutions provider, has partnered with BitPay to offer an advanced mobile solution for e-commerce transactions, leveraging the built-in hardware security already shipping on most commercial handsets. The open-source payments technology is compatible with any Trustonic-enabled smart device.

Rivetz-bitcoinRivetz said the app will be available in the second quarter of this year and is compatible with over 350 million existing Android devices, including Samsung smartphones.

“Rivetz is delivering state-of-the-art support that will help bitcoin be a standard, secure capability on every handset,” commented Tony Gallippi, co-founder and executive chairman of BitPay. “We look forward to enabling the Rivetz capability as an option for millions of bitcoin users.”

The app utilizes the Trustonic Trusted Execution Environment (TEE) environment built into millions of smart devices to provide the trusted execution space for storing and processing bitcoin private keys. The solution also takes full advantage of the Trusted User Interface (TUI) for secure PIN entry and secure display of the users’ transaction details. Rivetz uses Intercede’s MyTAMTM cloud service to securely load the bitcoin wallet into the TEE to protect the app and the data it accesses from threats that may be present on the handset.

“We are pleased to be working with Rivetz to bring state-of-the-art security and ease-of-use to consumers,” said Ben Cade, Trustonic’s CEO. “The Rivetz team is offering a great model for any app developer to leverage the advanced security that Trustonic TEE provides.”

Hackers have developed sophisticated methods to deploy malware onto smartphones. By separating app transactions from the mobile device’s primary operating system, the developers say payments can remain secure.

Rivetz provides a software developer toolkit to enable any cryptocurrency or payment app to take advantage of Rivetz’s capabilities. To sign up as a developer, visit developer.rivetz.com for more information and to access the tools.

  • Steven Sprague

    The great advantage bitcoin has it that it is modernizing the connection to the merchants. Bitpay and others are doing the heavy lift that will modernize e-commerce and payments by moving the world away from 16 digit credit card numbers and allowing end to end security from money on the phone to the merchant.

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