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Leader in Mobile App Security Successfully Completes Software-Based Mobile Payment Evaluation Process.
Leuven, Belgium ‒ November 9, 2021 ‒ Guardsquare, the mobile application security platform, today announced that the company has achieved EMVCo certification for its mobile app protection technology by completing a security evaluation process conducted by third party mobile security lab, Riscure. The EMVCo Security Evaluation Process assessed Guardsquare's Software-Based Mobile Payment (SBMP) components, demonstrating sufficient assurance in the Software Protection Tools (SPT) category.
Collectively owned by American Express, Discover, JCB, Mastercard, UnionPay, and Visa, EMVCo ensures card-based payment products work together seamlessly and securely worldwide through a standardized payment infrastructure. This includes creating global interoperability to combat card fraud while enabling innovation in the payments industry.
“As the threat landscape continues to evolve, organizations with mobile payment applications will increasingly benefit from the peace of mind resulting from leveraging EMVCo-certified software protection tools like Guardsquare. Developers and security teams will have the confidence their mobile applications will stand up against a variety of real-world attacks,” said Ryan Lloyd, Chief Product Officer of Guardsquare.
Using an EMVCo Certified solution demonstrates to the industry and customers of these financial services institutions that an organization takes security seriously to safeguard against both known and novel attacks.
“During the certification process, Riscure performed an expert security assessment on a representative app protected by Guardsquare’s platform,” said Tim Hartog, Director Mobile Payment Security at Riscure, an independent security laboratory accredited by the EMVCo consortium. “GuardSquare was tested against state-of-the-art attack methods and attacker tooling, including both static and dynamic analysis and successfully protected the mobile app.”
According to the Financial App Security Report, Guardsquare research reveals most mobile financial apps fall short of security best practices ‒ less than 50% of more than 3,000 financial apps on the Android marketplace are using proper mobile application security, resulting in these institutions leaving themselves open to reverse engineering, IP theft, fraudulent app clones, and sensitive data loss, among other high risk security threats.
Achieving EMVCo certification demonstrates Guardsquare’s dedication to cutting-edge, market-leading innovation to protect mobile payment apps against reverse engineering and tampering.
To learn more about Guardsquare’s EMVCo certification for software protection tools, please visit https://www.guardsquare.com/guardsquare-secures-emvco-certification.
For more information about mobile app security for banking and finance, click here: https://www.guardsquare.com/mobile-banking-finance-app-security.
Guardsquare offers the most complete approach to mobile application security on the market. Built on the open-source ProGuard technology, Guardsquare’s software integrates seamlessly across the development cycle. From app security testing to code hardening to real-time visibility into the threat landscape, Guardsquare solutions provide enhanced mobile application security from early in the development process through publication. More than 700 customers worldwide across all major industries rely on Guardsquare to help them identify security risks and protect their mobile applications against reverse engineering and tampering. Follow us on Twitter @Guardsquare and LinkedIn.
EMVCo is the global technical body that facilitates the worldwide interoperability and acceptance of secure payment transactions by managing and evolving the EMV Specifications and related testing processes. EMV is a technology toolbox that enables globally interoperable secure payments across face-to-face and remote environments. Adoption of EMV Specifications and associated approval and certification processes promotes a unified international payments framework, which supports an advancing range of payment methods, technologies, and acceptance environments. The specifications are available royalty-free, designed to be flexible, and can be adapted regionally to meet national payment requirements and accommodate local regulations.EMVCo is collectively owned by American Express, Discover, JCB, Mastercard, UnionPay, and Visa, and focuses on the technical advancement of the EMV Specifications. To provide all payment stakeholders with a platform to engage in its strategic and technical direction, EMVCo operates an Associates Programme and encourages all interested parties to get involved.
Riscure is a leading vendor of security tools and training for edge devices. Our tooling helps global technology leaders to build robust hardware and software solutions. Riscure security analysts bring top-notch security expertise to development teams and aim to run no-pain certification projects. Built on a wealth of security research and extensive practical experience, Riscure is well-recognized for its technical leadership. Riscure serves Semiconductor, Mobile Security and Mobile Payment, Automotive and Premium Content industries as well as the Government sector. Follow us on Twitter @Riscure and LinkedIn.
Chief Marketing Officer, Guardsquare
Konstantin Goncharov, Global Marketing Manager
+31 (0) 15 251 4090