SIM Secure Element

One of the most important problems to be solved in the mass deployment of mobile payment solutions is where the "secure element" should be stored. Without going into a lot of detail, this is basically the need to store a digital ID of the payer in such a way that it is very difficult to compromise. Much has been written and speculated on how this should be achieved in mobile payments. (Read this and this for a sample)

It was generally agreed that the Secure Element (SE) could be stored in three possible places:

• In a Memory card that can be inserted in a phone
• In an external device attached to the phone or
• on the SIM card

During the past period, I have heard quite a few organisations (the Euro payment council, the US FSTC an dthe Mobey Forum) verbally confirm that they are starting to realise that the only workable solution is the SIM card. This will start to influence solutions and I believe will help with acceleration of standards and also working solutions.

I believe that the work that we have done at Fundamo have lead toi the most advanced and proven SIM card based solutions currently available.