News Archive 2002

17.04.2002
Valimo joins PayCircle
The Finnish software company Valimo Wireless has joined the industry initiative PayCircle. PayCircle aims to develop specifications for micro payments based on established technology such as XML, SOAP and Java.

Valimo has focused on providing PKI-based user authentication and transaction validation services deploying a stand-alone server component. "This kind of expertise in the PKI area is going to be crucial for ensuring that the PayCircle APIs do not clash with the legal requirements and other security issues for ensuring non-repudiation" says Juha Mitrunen, Senior Vice President at Valimo. In the first instance, Valimo offers advice on security issues to ensure that PKI-centric application providers will not reject PayCircle's proposal. Secondly, Valimo aims to lever the emerging web-based micro payment API's to integrate a charging concept into Valimo Validator's platform.

Additionally, Valimo has a keen interest in gaining consensus in the following areas:

Transaction recording
Transaction archiving
Non-repudiation processes for micro payments and web-based subscription services.

Authentication and transaction validation have mainly been implemented as in-house services in various industries such as Internet banking. Valimo is developing products that enable companies to set up an open market for authentication services and transaction validations that can be charged on an individual basis.

"For this reason we are welcoming the PayCircle initiative. Our team at Valimo is committed to cooperate in creating a competitive market with a standardized payment interface", concludes CEO Jarkko Elonen, "And the developments at PayCircle will have a strong impact in the authentication and transaction validation business landscape."

About Valimo

Valimo Wireless Ltd specializes in developing software to secure and perform transactions with mobile devices. The company's main product is Valimo Validator, the server software that integrates mobile terminals into payment, billing, and authentication systems. Valimo Validator is highly scalable and standard-based Public Key Infrastructure (PKI) software, which enables user authentication and transaction validation. For additional information about Valimo, please visit www.valimo.com.

Further information

Valimo Wireless
Juha Mitrunen, Senior Vice President
Tel: +358 (0)9 7269 4100