MagicCube CEO: 'Innovation Is Outrunning Security'
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MagicCube CEO: ‘Innovation Is Outrunning Security’

Security continues to be an industrywide challenge. The pace of innovation is outstripping today’s security infrastructure, creating an immediate need to secure digital information exchanges on any device, usually using a software secure element. MagicCube addresses this challenge by delivering hardware-grade protection in software form, bypassing the complexity and constraints of legacy hardware solutions.

MagicCube is the world’s only software TEE security platform for mobile and IoT devices, protecting against on-device, cloud, and network attacks. Our solution secures digital transactions on any device, in transit and in the cloud with the same level of security as device hardware solutions, without the complexity and cost associated with hardware deployments. It offers the scalability and manageability of software with the security of hardware.

MagicCube’s product suite includes MC-Token Shield and MC-Screen Shield, capable of replacing the need for hardware security to build, deploy and remotely provision and manage point of sale systems and other IoT devices. The PIN-on-Glass solution reduces cost and complexity of point of sale ownership, raises card acceptance rates and lowers acceptance risk, which vastly increases scalability of POS deployment.

Most legacy solutions stitch together cumbersome hardware and are thus hard to scale up and difficult to manage aftermarket. Many do not even have a software solution, increasing their vulnerability to attacks and rendering them largely unsuitable in a digital landscape. Our aim is to enable  frictionless commerce, drive confidence in digital channels and reduce the ecosystem’s dependency on costly, lengthy and impractical hardware-based solutions to secure devices.

Fundamentally, MagicCube benefits the consumer, allowing them to make payments with confidence.

MagicCube also benefits retailers, by providing the market with the next generation of POS solutions that don’t require a separate device to enter your financial PIN. With PIN-on-Glass, merchants now have a fully downloadable, upgradeable, subscription-based solution that can turn any mobile phone or tablet device into a POS. When consumers feel confident about their preferred method of payment, this has the potential to increase point of sale traffic, build retail confidence and drive an increase in GDP.

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