YellowPepper, the leading mobile payment provider in Latin America, and MagicCube, the creator of the world’s only Software Trusted Execution Environment (sTEE™) platform, today announced a partnership to bring the Latin American and the Caribbean markets the first complete software solution that rivals hardware-secure elements to protect mobile and other connected devices. YellowPepper and MagicCube are integrating their industry-leading technologies in a new offering that protects token-based payment service deployments from advanced threats.
MagicCube's technology enables large scale deployments and management of IoT and mobile-secure solutions to consumers. The MagicCube sTEE platform provides a secure in-app container that protects sensitive data, sensitive logic, and cryptographic operations on the device while offering unprecedented ease of massive deployment and remote management capabilities.
"Security is at the core of everything we do at YellowPepper and it’s evident that we cannot solely rely on traditional encryption and obfuscation methods," said Serge Elkiner, YellowPepper’s CEO and founder. "The partnership with MagicCube not only gives our solutions market leading security and ease of management but it’s also perfectly aligned with our strategy to partner with outstanding security technologies and bring them to our markets.” .
"Through this partnership with YellowPepper, we will enable the storage and protection of high value credentials on mobile and connected devices without the impediment of relying on hardware," said Sam Shawki, CEO and co-founder of MagicCube. "The partnership also expands our reach into new markets where YellowPepper has a commanding market share, increasing the deployments and usage of our platform.".
Founded in 2004, YellowPepper is the mobile payments pioneer in Latin America with proprietary technology and partnerships with leading financial institutions and fintechs. YellowPepper provides a payment platform that gives consumers, merchants, issuers and processors the means to revolutionize the purchasing experience. Operating in nine Latin American countries the Miami-based company currently enables over 6.5 million monthly active users that execute 380 million transactions yearly, while connecting them with more than 400,000 merchants. For more information, please visit www.yellowpepper.com.
MagicCube is the creator of the world’s only Software Trusted Execution Environment (sTEE™) platform, a technology that enables large-scale deployment and management of IoT and mobile-secure solutions to consumers. The MagicCube sTEE platform provides a secure in-app container that protects sensitive data, sensitive logic, and cryptographic operations on the device while offering unprecedented ease of large-scale deployment and remote management capabilities. Unlike other solutions, MagicCube is completely hardware-independent, runs on any smart device and is not limited to enterprise deployments. For more information, follow us on Twitter @Magic3inc.