appMobi Launches Authentication Technology for Mobile Payment Apps
July 28, 2011
appMobi, a provider of tools for app developers, recently launched a new authentication technology for mobile transactions. The Lancaster, Pa.-based firm said its cloudKey technology stores users’ on the device—never in an online database—using 256 bit Advanced Encryption Standard. “appMobi’s engineers have long recognized that securing a centralized database is basically impossible—if it’s online, it’s vulnerable to break-in. There’s no way around it,” said Sam Abadir, appMobi’s CTO. “We don’t store anything of value in a centralized database, so there is nothing of value online for thieves to steal. With this advance, cloudKey has eliminated all the tempting targets for the bad guys; even if they could steal appMobi’s entire crypto key database and a user’s device, they’d then have to guess the user’s password, and at most they could get only 1 credit card number. It would be a huge expenditure of effort for very little gain. By keeping private data local on the device, cloudKey makes massive security losses like the recent 77 million account Sony PlayStation network breach impossible.” appMobi also announced cloudKey has been integrated into its 1Touch payment system, which is ready for use by Web and mobile app developers.