Jumio PORT Enables One-Click Mobile Payments, Identification
Oct. 11, 2013
Jumio, a Silicon Valley provider of authentication technology for the mobile payments industry, has launched a device-based digital wallet infrastructure it said will enable secure, one-touch mobile payment and identity functions through apps like Apple Passbook and Samsung Wallet. During a launch event in Las Vegas on Wednesday featuring Facebook co-founder Eduardo Saverin—a Jumio investor and board member—the company introduced PORT as an infrastructure play that will integrate with mobile devices and leverage Jumio scanning technology for payment and ID authentication.
Daniel Mattes, Jumio’s CEO said Jumio PORT will integrate with individual mobile apps and device-based digital wallets like Apple’s Passbook and Samsung Wallet. First-time users of a mobile payment app scan their payment or ID credentials with their smartphone’s camera. After the first time they use a merchant’s mobile payment app, they can tap a single time on a “Pay with Passbook” button to complete a transaction using the same credentials stored in Passbook or, eventually, the Android equivalent.
“We are not a wallet provider, we are an infrastructure provider, an enabler for industry,” said Mattes. “Every merchant will be able to utilize device-based wallet technology within their own app. I want a one-click checkout experience and a one-click identification experience.”
At the same time, Jumio announced its intention to form a member-owned and operated industry standards organization to be known as CIESTA (Customer Information Storage and Transmission Association). Acknowledging the vital role consumer perception of security will have in the adoption of mobile payments, Jumio wanted to use the PORT announcement to start a conversation about security. Jumio will sit on an advisory board when the organization is founded, but does not plan on leading the effort.