Unlike solutions that are tied to specific merchants or financial institutions, the MicroSD card powered by Tyfone technology lets the card work like an actual mobile “wallet.” The card can contain financial information and secure identification from multiple sources, such as specific retailers or financial institutions in both open-loop and closed-loop scenarios. SideTap card’s onboard controller that manages over-the-air (OTA) access in conjunction with the u4ia® (pronounced euphoria) mobility platform is fully expandable, allowing consumers to add new payment and identity options, creating a true mobile wallet that is as flexible as the card provider would like it to be. Through this agreement, First Data will provide merchants and financial institutions with Tyfone’s patented SideTap secure memory card and u4ia mobility platform for OTA life cycle management. The SideTap card can retain memory card functions, so consumers can continue to utilize the card as they normally would, to store photos, videos, music, documents, or other files. An embedded SmartMX security chip from NXP Semiconductors is safeguarding all transactions operated on the MicroSD card. “The move to contactless payments is gaining traction and First Data continues to play a pivotal role in the development of this evolving technology. Consumers have a strong preference for such technology and merchants are using contactless payments to reduce waiting times, increase customer loyalty, and boost sales,” said Dom Morea, First Data division manager of Mobile Commerce Solutions. “First Data chose Tyfone’s SideTap Memory Card because it best serves the needs of consumers who want to use contactless payment options with over the air access, but still want to retain the memory card functionality of their MicroSD card. We are excited to partner with Tyfone and bring this technology to consumers in the second half of 2010.” www.firstdata.com