SmartServ Online (OTC BB: SSOL) has entered into a licensing agreement with Diversinet Corp. (Nasdaq: DVNT) to offer end-to-end security and digital signature capabilities to users of its e-commerce platform.
The e-commerce solutions provider will add Diversinet’s Passport Certificate Server to boost its portfolio of Web and wireless e-commerce transaction-enabling products.
“We were looking for a seamless solution for Web and wireless e-commerce,” commented Sam Cassetta, chairman and CEO of SmartServ Online. “By incorporating Diversinet’s technology on our platform and in our end-user applications, SmartServ ensures end-to-end security transmission all the way from the client, through the gateway, to our server and back to the client.”
Passports, Crypto & Wireless Transactions
The Passport software product utilizes encryption along with digital certificates, permissions and signatures to ensure the integrity of wireless Web transactions and communications.
The technology is designed for wireless devices and other bandwidth-constrained products, including smart cards. “Without an enhanced level of security, none of the exciting wireless e-commerce applications will succeed because users won’t trust the safety of their transactions,” stated Nagy Moustafa, Diversinet president and CEO.
According to Diversinet, the Passport Certificate Server issues WAP WTLS 1.1 (Wireless Transport Layer Security) certificates. WTLS is a wireless version of TLS, a wireline standard for secure communications that upgrades the SSL (Secure Socket Layer) standard.
“Diversinet’s software provides trust through our patented technology to ensure that buyers and sellers are authenticated,” Moustafa added. “The software also provides an ‘audit trail’ that’s vital if the transaction is ever disputed.”
Using Diversinet’s solutions in conjunction with the Wireless Application Protocol (WAP), SmartServ is aiming to Web-enable banks, brokers and online retailers. Diversinet, through its Passport Certificate Server — now in version 3 — has been providing security services and solutions for wireless banking, stock trading, auction and shopping.
“SmartServ represents a great channel for our product, and by incorporating Diversinet’s technology into their products, they enable end-users to securely use mission critical applications such as wireless stock trading,” said Moustafa.
SmartServ also debuted its wireless stock trading service at COMDEX in Las Vegas, Nevada last month, in conjunction with strategic partner Nokia.
“We view stock trading as the first vertical application that will extend from the Web to mobile Internet-ready devices,” commented Cassetta. “With this new security layer, we have completed the challenge of securely routing a wireless stock trade.”
According to SmartServ and many analysts, there will be as many as one billion wireless phones — more than wired phones — in use by 2003, half of which will have access to data services. In Europe, the wireless e-commerce market is expected to generate $25 billion (US$), according to a report by Durlacher Research released last month.
The Mobile Commerce report indicates that 21 percent of the revenues will be generated by mobile financial services and personal shopping will generate 15 percent.