Le Lézard
Classified in: Science and technology, Business
Subjects: CON, ACC

Interac Partners with Sequent Tokenization Platform for its International Licensees


TORONTO and SANTA CLARA, California, November 22, 2017 /PRNewswire/ --

Agreement makes it easier for clients to offer digital payment services  

Interac Association/Acxsys Corporation (Interac), one of Canada's leading payments brands, and Sequent Software Inc. (Sequent), a leading tokenization provider, announced today an agreement that will help reduce or eliminate upfront capital investment required to implement tokenization platforms for digital payments. Under this agreement, Sequent will provide access to a tokenization Platform as a Service (PaaS) for networks outside of Canada using the white-labeled version of Interac's contact and contactless EMV specification.

"We are making it easier for our international licensees to provision card credentials to a smartphone," said James Good, Head of International Business Development, Interac Association and Acxsys Corporation. "This will be particularly useful for licensees who might otherwise not have been interested in or capable of investing the time, effort and upfront capital to create their own in-house tokenization solution."

"Regional and national networks throughout the world are moving their platforms forward to support tokenization and at the same time looking for the most economical and functional paths possible," said John Kirst, CRO of Sequent. "Interac has been a long-standing leader in contactless and mobile adoption. We believe the combination of our technologies and experience represents a compelling proposition to payment network operators."

In addition to offering consulting services on a global basis, Interac licenses its documentation, specifications and software to domestic networks and other payment solution providers outside of Canada under flexible terms to help them remain agile, competitive and innovative. Licensees can quickly and cost-effectively leverage solutions which can be customized and implemented to deliver products based on those offered by the Interac network in Canada, including contact and contactless EMV, mobile and P2P solutions.

With the added power of the Sequent Platform, its next-generation tokenization technology and open Application Programming Interface (API) and Software Development Kit (SDK) architecture, which are helping to accelerate the adoption of digitized cards in smartphone apps and connected devices, international licensees of Interac's dual interface EMV specification - - branded in Canada as Interac Flash® - will be able to offer a world-class mobile payment solution to their clients and focus on building the best customer experience.

More information about Interac's licensing activities is available at interac.ca/en/interac-solutions.html

About Interac Association and Acxsys Corporation 

Together, Interac Association and Acxsys Corporation operate an economical, world-class debit payments system with broad-based acceptance, 24/7/365 reliability, security, and efficiency. The organization is Canada's leading payments brand and is chosen an average of 16 million times daily to pay and exchange money. For more than 30 years, it has facilitated secure financial transactions through the development of innovative and convenient digital debit and money transfer solutions. A leader in the prevention and detection of fraud, the organization has one of the lowest rates of fraud globally. Visit Interac.ca or follow us @Interac

About Sequent  

Sequent Platform brings cards to mobile and makes them useful for consumers. Sequent enables banks, transit agencies, access control providers, and other issuers to securely digitize their credit, debit, transit, loyalty, or ID cards and distribute them to their own applications or popular wallet apps. Sequent's simple APIs empower the app developer community to add tokenized cards to all apps on mobile, wearable and other connected devices and enable their consumers to make payments, redeem offers, open doors, and ride transit systems. Sequent Platform includes: Token Service Provider (TSP), Token Orchestration (TR-TSP) and Trust Authority. For more information, please visit http://www.sequent.com, like us on LinkedIn and Facebook at Sequent Software, and follow us on Twitter @sequentsw.

Media contacts: Interac Association/Acxsys Corporation, +1-416-413-5029, [email protected]; Carol Felton, InsightCirclePR for Sequent, 408-807-3780, [email protected]


These press releases may also interest you

at 06:30
The Actuators market is estimated at USD 67.7 billion in 2024 and is projected to reach USD 94.8 billion by 2029, at a CAGR of 7.0 % from 2024 to 2029 according to a new report by MarketsandMarketstm. The growth can be attributed to growing...

at 06:13
JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") , one of the largest and most innovative solar module manufacturers in the world, today announced that since March 20, 2024, the Company has repurchased 788,178 American depositary shares...

at 06:05
AIS Healthcare, a leading provider of targeted drug delivery (TDD) and infusion care solutions, is proud to recognize March 25-31 as National Physicians Week. This week and throughout the year, we celebrate the dedication of physicians who selflessly...

at 06:02
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists and consumers stay on top of the week's most newsworthy and popular releases, here's a recap of some major...

at 06:00
G-P (Globalization Partners), the recognized leader in the global employment market, and standard bearer for industry compliance, today announced it was awarded 50 leader badges in G2's 2024 Spring Report, including Employer of Record Leader, Global...

at 05:34
Sungrow, a global leading PV inverter and energy storage system supplier, has emerged as one of the standout companies on the 2024 Fortune Asia Future 30 list. The list, which recognizes the most promising companies in Asia Pacific, is a testament to...



News published on and distributed by: