Obopay Implements SafeNet Hardware Security Module to Enhance Mobile Payments Security

Business Wire, June 2, 2008

BALTIMORE -- SafeNet, Inc., a global leader in information security, has announced the successful implementation of its hardware security module (HSM) at Obopay, a U.S.-based mobile payment company.

Obopay has selected SafeNet's Payment HSM products to provide higher standards of banking security for its customers. Obopay provides person-to-person money transfer, person-to-merchant payment, utility bill payment, prepaid top up and insurance payment services. In this scenario, highly confidential information needs to be encrypted and decrypted between the Obopay platform and the bank platform. SafeNet's Payment HSM products address this issue and provide higher performance and security standards.

"After the stringent evaluation process we found out that SafeNet's HSM provides higher security than its competition. Since it is a hardware box, it is more secure than software encryption. Although the product provides similar security standards to competitor's products, in terms of performance SafeNet's HSM scored much higher. SafeNet HSM supported 1200 transactions per second (TPS), whereas products from other vendors supported only 20 TPS for the same price," said an Obopay spokesperson. "All of this coupled with SafeNet's unparalleled technical support, made them a sure winner."

"It is very rewarding to see Obopay invest in SafeNet's HSM to provide higher banking security to its customers," said Rene Bastien, payment products manager, SafeNet, Inc. "Obopay has invested in a comprehensive solution, allowing them to deliver superior service to their customers."

SafeNet HSMs are a premium product that provides advanced features including direct hardware-to-hardware backup, split user role administration, multi-person authentication and trusted path authentication coupled with proven security and operational deployment experience in some of the largest financial institutions in the world.

About SafeNet, Inc.

SafeNet is a global leader in information security. Founded 25 years ago, the company provides complete security utilizing its encryption technologies to protect communications, intellectual property and digital identities, and offers a full spectrum of products including hardware, software, and chips. UBS, Nokia, Fujitsu, Hitachi, Bank of America, Adobe, Cisco Systems, Microsoft, Samsung, Texas Instruments, the U.S. Departments of Defense and Homeland Security, the U.S. Internal Revenue Service and scores of other customers entrust their security needs to SafeNet. In 2007, SafeNet was taken private by Vector Capital. For more information, visit www.safenet-inc.com.

Editor's Note: SafeNet is a registered trademark of SafeNet, Inc. All other trademarks are the property of their respective owners.

About Obopay

Obopay is a two-year-old, U.S.-based P2P payment and remittance service provider; the pioneer in real time, cross bank, cross channel, cross operator, P2P money transfer service. Obopay currently has offices in Bangalore and Mumbai. Obopay lets consumers and businesses purchase, pay and transfer money through any mobile device. Learn more at www.obopay.in.