The Money 20/20 Europe event sees the MagicCube enter European markets with a product suite including MC-Token Shield and MC-Screen Shield, capable of replacing the hardware security needs of point of sales systems.
The MagicCube European presence comes complete with a branch office in Munich headed by Ingo Tänzler, who previously worked at Giesecke & Devrient.
MagicCube technology transforms regular mobile devices into "secure, full-featured POS systems." It allows consumer devices with touchscreens of all sizes to handle sensitive data, such as payment card PINs. The result is a reduction in cost and complexity of POS ownership, as well as an increase of card acceptance and reduction in acceptance risk.
The platform covers a broad spectrum of data types, such as encryption keys, through PKI, payment tokens, personal data, identity and authentication. It also secures the sensitive logic required for biometrics, tokenisation, secure screen input, device identity and AI logic for autonomous cars.
According to a MagicCube-sponsored IDC whitepaper puts it, the payment market needs a better than "good enough" solution able to simplify the processing of sensitive data while working regardless of OS, wireless carrier or device vendor. In short, the best security solution is self-contained software able to receive necessary updates remotely, scale to meet the needs of IoT economy and offer the same security as hardware.
Go MagicCube to launch its PIN-on-Glass Product at Money 20/20 Europe and Establish Presence in Munich
