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SPYRUS Signs Partner Agreement with ViMass to Protect Electronic Transactions Across Vietnam

By August 27, 2019 Blog, Press Release

SPYRUS Solution Enables ViMass to Meet Government Mandate

SAN JOSE, Calif. — Aug. 27, 2019 — SPYRUS Solutions, Inc (“SPYRUS”) announced today it has signed a partner agreement with ViMass, a mobile communications service provider in Vietnam, to integrate FIPS 140-2 Level 3 certified security with their secure financial payment services across the country.  With consumer transactions shifting from cash and credit cards to payment services on mobile devices, the demand for reliable and trusted authentication and encryption of mobile commerce is rising in response to the growing threat of cyberfraud.   In late 2018, the Vietnamese government issued Decree 130, which details the security requirements for e-transactions and accelerates the timeline for verifying and licensing digital signature certification services.  ViMass has received a license from the State Bank of Vietnam to provide three secure payment services to its subscribers—payment gateway, collect on delivery and digital wallet.

“ViMass is proud to be one of the non-bank organizations licensed to provide payment services in Vietnam under Decree 130,” said Mr. Tran Viet Trung, chief executive officer of ViMass. “We chose SPYRUS to be our partner because of their innovative technologies providing FIPS certified encryption and authentication technologies to protect our customers transactions. We are pleased to work with SPYRUS to confidently protect our customers from cyberfraud without impeding the convenience of mobile banking.”

Since March 2019, SPYRUS has provided its FIPS 140-2 Level 3 certified Rosetta USB and the internal HSM within the Rosetta microSDHC™ to support the required PKI functions of authentication, signing and certificate import.  This solution enables ViMass to securely connect and digitally sign all internet transactions between consumers, enterprises, and the servers of banks, financial institutions, trading and brokerage firms, public service providers, and public Internet of Things (IoT) devices.  The ViMass Wallet application can integrate digital signatures to authenticate all transfers, payments and electronic invoice issuance both on websites and mobile phones.  The SPYRUS solution is currently deployed for Android devices.  SPYRUS will augment this solution with TrustedFlash™ AES-256 hardware encrypted microSDHC devices for secure storage of financial information and support of PKI and encrypted storage for iOS devices in the near future.

“Cyberfraud is a serious issue impacting mobile transactions,” explained Grant Evans, chairman and chief executive officer, SPYRUS.  “As these transactions become the default way to do business, it is crucial all points in such transactions are protected.  We anticipate more governments around the globe will consider stringent regulations as Vietnam has done.  SPYRUS is pleased to partner with ViMass and demonstrate the art of the possible.”

Learn more about SPYRUS at www.spyrus.com.

 

About SPYRUS Solutions, Inc.
SPYRUS develops and deploys cryptographic operating systems in innovative ways, providing the strongest protection for data in motion, data at rest and data in process.  For more than 20 years, SPYRUS has delivered encryption, authentication, and digital content security products to government, financial, and healthcare enterprises.  SPYRUS solutions enable customers to meet stringent regulatory requirements for data protections across industries.  Connect with SPYRUS on LinkedIn and Twitter.

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