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Company: Mobeewave Inc.
Product: Mobeewave
Website: www.mobeewave.com (PAN), encrypting the transaction and meeting
Contact: info@mobeewave.com all Payment Card Industry (PCI) security stan-
dards. Mobeewave's technology adds further

layers of security, using the derived unique key

Secure, in-person per transaction method to guarantee the key
used to encrypt the PAN always changes.

• Protects against malware: When the secure ele-

proximity payments ment is interacting with the credit card or mobile
wallet, it cuts communication with the rest of the
phone, which eliminates the threat of the unen-

M obeewave Inc., a payment technology com- crypted PAN being captured by malware.
pany based in Montreal, launched a mobile Secure, stranger-to-stranger payments
wallet designed to digitize in-person, peer-to-
peer and micro-merchant payment transac- Mobeewave can function within banking apps, to provide

tions. The company's patented technology uses near field users with "get paid" and "get money" options. Consumers

communication (NFC) and the secure element on mobile can use Mobeewave's in-person proximity payment solu-

devices. tion for a range of personal payment scenarios. Following

are several examples the company provided:

Mobeewave exhibited with Oberthur Technologies at the • IOU: Facilitates fast, simple debt repayments and
Cartes Secures Connexions Expo in Paris, where it won the reimbursements.
2015 Best Mobile Security Solution award. The company
has also participated in strategic initiatives with Visa Inc., • Cost splitting: Enables expense sharing without
Global Payments Inc., and the Princess Margaret Cancer having to go to an ATM or make change.

Foundation. • Contract labor: Enables babysitters, house cleaners

"A mobile wallet should enable you to get paid by anyone, and service providers to pay or get paid for servic-

anywhere, for anything," said Tim Morris, Head of Mar- es.
keting and Communications at Mobeewave. "NFC creates
dialog between the chip and secure element within the • In-home sales: Allows those hosting in-home sales
smartphone, and the secure element will recognize the events to promote products and services without
worrying about their customers' available cash.

credit card. Mobeewave's patented technology encrypts the • Fitness instructors: Offers simplified payment ac-

transaction and restricts the secure element from any other ceptance for freelance personal trainers, yoga and

communications until the transaction is complete." Pilates teachers, and other instructors who travel to

Safe cash alternative multiple locations.
• Charities, special causes: Facilitates donation col-

One interesting aspect of Mobeewave technology is that lections without the need to carry cash or mobile

payors and payees don't need to know each other, Morris POS devices.

added. The technology enables people to transact in tick- Open-loop network
eting venues, yard sales, food delivery, impulse purchases

and events typically dominated by cash. Mobeewave prides itself on having solved the challenge of

Unlike other person-to-person (P2P) platforms that store stranger-to-stranger payments. Unlike other closed loop
user data in the cloud, Mobeewave transactions are locally P2P payment schemes, Mobeewave's in-person payment
processed between the card and device to create the high- scheme does not require payor and payee to use the same
est level of security, Morris added. He expects the app to network or service or even exchange personal information,
be especially relevant to millennials and other consumers company representatives stated.

who prefer not to carry cash in physical wallets. The Mobeewave solution can turn anyone's device into a

credit card terminal. For example, the person getting paid
Mobeewave noted that it protects users throughout the enters the payment amount on a smartphone, and the payee
transaction lifecycle in the following ways:
taps the back of the phone with a contactless card or mobile

• Leverages the safest part of a smartphone: Mobee- wallet. Only the individual who is receiving payment needs
wave uses the secure element, a tamper-resistant to have Mobeewave's technology. The company expects the
hardware platform embedded in the NFC chip of solution to gain widespread adoption in the United States
modern smartphones that provides a secure envi- with increasing implementation of mobile wallet and con-
tactless chip card technologies.
ronment for executing a transaction.

• Is security compliant: Mobeewave technology
uses NFC to read the primary account number

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