Cyber secure and attack protected transactions and payments for mobiles, terminals and devices – Mobipay Securiservices Pvt Ltd.,
Cyber-secure and attack-protected transactions and payments for mobiles, terminals and devices
Problem
- Digital payment systems remain vulnerable to cyber-attacks, fraud, and data compromise due to software-only security models.
- Large segments of the population are unable to access digital payments because of lack of connectivity, especially in remote, hilly, and zero-network areas.
- Feature phone users are largely excluded from secure digital payment and transaction ecosystems.
- Existing payment platforms do not support secure offline transactions with validated identity, KYC, and credit credentials.
- Financial inclusion efforts are constrained by dependence on assisted service models that introduce bias, cost, and limited service availability.
Solution
- Development of a SIM overlay–integrated, hardware-based secure software platform enabling cyber-secure digital payments and transactions.
- Creation of a Trusted Execution Environment on mobile devices using a secure element embedded in the SIM overlay.
- Enablement of offline digital payments, including anonymous UPI, CBDC, tokens, stablecoins, and card-present mobile commerce.
- Deployment of tokenised KYC, digital signatures, and credit profile credentials stored securely on-device for offline validation.
- Integration with banks, NPCI, payment networks, regulators, and hardware partners through certified and approved interfaces.
Outcomes
- Regulatory approvals received from MeitY and the Controller of Certifying Authorities for offline secure payment validation.
- Integration approvals obtained from financial regulators for participation in the national digital payments ecosystem.
- Execution of MoUs with financial regulators to embed the technology within India’s digital payments framework.
- Establishment of a patented, globally relevant cyber-secure payment technology stack.
- Creation of a scalable platform with potential for nationwide and international adoption.
SKOCH Award Nominee
Category: Digital Transformation
Sub-Category: Cybersecurity and Data Protection
Project: Cyber secure and attack protected transactions and payments for mobiles, terminals and devices
Start Date: 2-01-2025
Organisation: Mobipay Securiservices Pvt Ltd.,
Respondent: Taron Mohan
https://www.mobipaysecuri.com/
Level: DX – 1
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Case Study
Mobipay Securiservices Pvt. Ltd. launched the “Cyber secure and attack-protected transactions and payments” project to address the systemic vulnerabilities of software-based security and the persistent digital divide. Initiated on February 1, 2025, the project prioritises hardware-centric architecture over traditional software layers to protect users from sophisticated cyber threats. By utilising a SIM overlay-based secure element, the technology creates a Trusted Execution Environment directly on the mobile device. This innovation allows for the secure storage and processing of payment credentials, KYC data, and transaction logs, remaining entirely independent of the device’s operating system, telecom network, or application layer.
The development of this platform was the result of over five years of foundational research into hardware design, secure chip capabilities, and encryption standards. This long-term effort culminated in a focused three-month integration phase with banking systems, followed by an intensive evaluation period from August to December 2025. A primary breakthrough of the project is the enablement of fully offline digital payments, allowing for merchant transactions even in areas devoid of network connectivity. Furthermore, the technology extends secure digital functionality to feature phones, effectively bringing an estimated 350 million previously excluded users into the formal digital economy without compromising security.
Despite its success, the implementation faced substantial challenges, including the technical difficulty of fitting advanced security interfaces into a nano-SIM form factor. The organisation also had to navigate complex regulatory landscapes and convince traditional financial institutions to shift toward a hardware-first security mindset. These obstacles were overcome through rigorous technical validation, certifications, and strategic ecosystem partnerships. Ultimately, the project positions Mobipay Securiservices as a leader in cyber-secure finance, providing a scalable and inclusive model that bridges the gap between high-level security and universal accessibility for global digital transactions.
For more information, please contact:
Taron Mohan at taron@nextgentele.in
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