WISeKey Announces its Project to Deploy Digital Identity Based Mobile Payments in India at the India Economic Summit

GENEVA, Switzerland, November 14, 2011 -- Since 2008 WISeKey has been working to bring Mobile Banking to millions of people with active projects targeting the BRIC countries. At the 2011 India Economic Summit, WISeKey announces it will be expanding efforts in India with new strategic partnerships in the coming months. WISeKey has a network of affiliates deploying this technology at the national level. As a result, WISeKey is offering Indian partners a platform that will enable anyone with a mobile phone to carry out financial transactions, even if they don't have a bank account.

This September at the CGI, WISeKey pledged to provide identity management and the transaction platform to enable a new approach of remittances and micro-credit initiatives.

"It is estimated that only one billion of the world's five billion mobile device users have bank accounts, but everyone needs a way of sending money", said Carlos Moreira, CEO of WISeKey. "In addition to the 'unbanked', there are the 'under banked'-those who have difficulty accessing their bank accounts, as branches and ATMs are rare in many emerging economies."

WISePay and WISeID, based on WISeKey technology, allow financial institutions, mobile operators, e-commerce, and catalog retailers to provide customers with universally trusted services through the most common and secure channels.

Both WISePay and WISeID will be fully compatible with the Unique Identification Number (UID) project, in which the Indian government aims to provide a unique ID to its citizens, but without smartcards. WISePay in combination with WISeID is ideal for this initiative as the WISeKey technology provides a Digital ID for use through your mobile phone.