The groundbreaking virtual trusted execution environment remains the only SBMP TEE (either hardware or virtual) to currently be evaluated and approved by EMVCo.
The Licel vTEE has been re-evaluated and approved by EMVCo under the SBMP TEE category for the Android platform. This is the second year in a row that Licel’s virtual trusted execution environment has been recognized for Android, six months on from celebrating approval for the iOS platform.
Since its initial release, the Licel vTEE has achieved widespread adoption across diverse sectors and markets. For example, it is helping innovative organizations in the mobile wallet and SoftPOS sectors to carry out sensitive mobile transactions securely. The Licel vTEE’s platform-agnostic implementation approach and cutting-edge protection against sophisticated attacks means that these future-thinking financial tech companies are able to implement fraud prevention at scale, accelerate time-to-market, and achieve compliance while building confidence in their solution.
“One of the main reasons we get the Licel vTEE externally evaluated is that it simplifies and streamlines our clients’ own certification process”, explains Ivan Kinash, co-founder and CEO of Licel.
“Wallet and SoftPOS developers know that the EMVCo SBMP TEE evaluation process is a really stringent one. And so using a protection solution that has already been approved is a massive time and cost saver for their own evaluation process, whether that is for EMVCo or PCI MPoC.”
The Licel vTEE’s advanced cryptography and dynamic, flexible protection makes it a good fit across the modern mobile payments landscape, from consumer wallets, to SoftPOS vendors, through to issuers (banks) and card schemes. It enables them to run Trusted Applications within Licel’s virtual trusted execution environment, which is vital as it helps to bring trust to an inherently untrusted device; the mobile phone.
Based on customer feedback, Licel has optimized vTEE performance on a wide range of mobile devices and continues to enhance its security features. As a result of these efforts, the company has released version 1.2 of the Licel vTEE. With the help of Applus+ Laboratories, a global leader in the testing, inspection, and certification sectors, this latest version has been proven to meet the highest EMVCo TEE security standards.
“It’s great to see the Licel vTEE continue to evolve and offer enhanced security to business critical mobile applications across the mobile payment landscape”, says Jose Ruiz, Cybersecurity BU Director of Applus+ Laboratories. “I look forward to seeing the Licel vTEE continue to develop and I’m proud of the role of the team here at Applus+ Laboaratories for their meticulous approach to evaluating it.”
