Kryptus and Ecoscard enter into a partnership to serve the fast-growing payment market

The agreement, which already has its first client in Brazil, is part of Kryptus’ expansion strategy through the association with technology suppliers for the financial sector

Faced with the growth of the Brazilian payment sector, marked by movements such as the start of operation of the instantaneous payment system, PIX, and the expansion of Open Banking, new players are rushing to adapt to the demands and gain a share of the market.  Driven by these trends, Ecoscard, a payment solutions company for EMV chip card technology, and Kryptus, a multinational in cyber security and cryptography, announced a partnership that aims to offer security, scalability, ease of operations, in addition to support for companies of any size focused on the financial sector.

The combination of Ecoscard’s long experience in the payments market with the security of the only Brazilian FIPS certified HSM (Hardware Security Module) device, Kryptus’ kNET, has already won its first client in the payment sector. Seven, a consulting and software development company focused on new technologies for the financial sector, will benefit from Ecoscard and Kryptus’ offer to provide data preparation to the card issuing market.

According to Paulo Rosas, CEO of Ecoscard, the integration of Ecoscard APIs to Kryptus HSM will provide agility of deployment and possibility of customization of operations, including for small and medium companies, while still having the advantage of local support in Brazil.

“The payments market is undergoing changes all over the world, and the number of transactions is expected to grow at an ever-increasing pace. With this partnership, we will provide high availability, security and great cost-benefit ratio, which will play a fundamental role in the strategies of the companies”, points out Felipe Riule, Head of Channels and LATAM Partnerships of Kryptus.

According to the executive, Kryptus should announce other partnerships in Brazil and Latin America soon. Besides, the company is already in an advanced stage of negotiation with possible partners in Africa, Europe and Middle East. “We have defined a strong plan of expansion on the payments sector for the next years. And closing partnerships with companies like Ecoscard around the world will be one of the pillars of our strategy”, he explains.

Ecoscard provides security and encryption solutions for payment media in EMV standard, such as preparation, testing, authentication and data validation applications for smart cards, dedicated software for user authentication with 3DS Secure Code protocol (Visa, MasterCard and ELO), interface applications with HSMs, in addition to offering specialized consulting and training.

Kryptus kNET is a FIPS and ICP-Brasil certified hardware security module (HSM), in compliance with safety requirements defined by the National Institute of Standards and Technology (NIST), that protects critical applications protecting sensitive keys and software with top-level performance. The native KMIP API allows direct TLS connection (no drivers required), and is the perfect fit for IoT, Cloud, and Blockchain applications.

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