IDEMIA Secure Transactions has announced joint efforts with Qualcomm Technologies to enable users to make and receive offline CBDC payments on smartphones running on Snapdragon 8-series Mobile Platforms relying on the built-in Secure Processor Unit.
With this partnership, IDEMIA Secure Transactions (IST) believes that they can make it possible to marry high security with frictionless deployment for end-users.
In previous projects with central banks, IDEMIA Secure Transactions believes that it has already demonstrated offline CBDC on a variety of payment devices.
With this new project, IST believes that it demonstrates offline payment protocol and the associated credentials handling, done by an integrated secure element already available in users’ phones, meaning safer and easier offline transactions for them.
An strategy to facilitate the deployment of offline CBDC payments
By joining forces with Qualcomm Technologies, IST believe that they will enable OEMs to allow millions of users to make offline payments with CBDCs via their smartphones, thanks to the Qualcomm Secure Processor Unit (SPU), a highly secure computing environment integrated into the Snapdragon 8-series.
Qualcomm Technologies’ products and solutions are behind and inside the innovations that deliver significant value across multiple industries and to billions of devices.
Security for offline payments
When it comes to offline payments, security is particularly important as validation by a server is not possible. Therefore, a secure element must be issued specifically for that need to prevent double-spending and unauthorised money creation.
The Snapdragon 8 Mobile Platform, together with IST’s solution, makes it possible to deploy offline CBDC on a smartphone equipped with that chip. IDEMIA statses that this happens without compromise on security, thanks to the use of the Qualcomm SPU.
“True to our commitment to make secure offline CBDC work anywhere, anytime and for everyone, we are very proud to collaborate with Qualcomm Technologies, one of the world’s most innovative companies,” said Jerome Ajdenbaum, VP Digital Currencies at IDEMIA Secure Transactions. “This new payment solution underlines IDEMIA Secure Transactions’ ability to marry frictionless deployment with ever more secure technologies, with the primary aim of making users’ life easier.
“We are looking forward to working with central banks and the mobile OEMs to deploy these solutions all around the world.”
“Leveraging the Qualcomm SPU on the Snapdragon 8-series Mobile Platforms helps to make offline CBDC payments more secure and allows for easy integration for OEMs,” added Asaf SHEN, Senior Director, Product Management, Qualcomm Technologies. “In fact, the smartcard certification achieved for SPU means it is resistant to attacks performed by an attacker possessing High attack potential, which is the highest level.
“We look forward to OEMs deploying offline CBDC and simplifying the life of users.”
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