Palo Alto, CA (PRWEB) May 15, 2014
TAPBase has announced it will add a next-generation standalone card and wallet device to its TAP Platform. The new device contains both NFC (Near Field Communications) and BLE (Bluetooth Low Energy) interfaces, and can replace existing cards for identity, payments, loyalty, transit ticketing, physical access and more. “We’re very pleased to offer consumers the chance to replace many of the cards in their wallets and purses – in a secure and convenient manner,” reported CEO, Robert Mallett.
“The magnetic stripe card has little to no security. It can be easily copied and counterfeited, and puts cardholders’ personal information and accounts at risk. Smartphones are capable of replacing the magnetic stripe but have not done so because of considerable market fragmentation and stakeholders blocking each other. With TAP we offer a bridge solution that is readily available to both iPhone and Android users.”
TAP offers a tokenization service to card issuers, and allows ‘soft card’ tokens to be provisioned to mobile smartphones at any time or place. For security, tokens are one time use, short-lived and can also be geo-fenced and paired to a hardware device. The TAP Platform includes a full-featured API that allows card issuers to easily integrate TAP with their existing systems.
Soft cards and tokens are stored within the TAP mobile wallet application and can be used directly in proximity transactions using either NFC or BLE interfaces. The Wallet application also controls and transmits selected soft cards and tokens to the standalone TAP Card device through a BLE interface.
TAPBase, LLC expects the device to be widely available in the United States by Q3/Q4 2014 and in international markets by early 2015. More information is available at http://www.tapcard.com.