SAN CARLOS, Calif., Oct. 28, 2014 (GLOBE NEWSWIRE) -- Kili Technology Corporation, a rapidly growing developer of secure, low-cost payment processing solutions, announced today it is creating a new company, Dream Payments, which will focus on the development of end-to-end mobile payment processing. Kili will supply Dream Payments and the overall industry the core hardware and firmware needed to develop low cost, secure, EMV-compliant payment processing products.
"The payment processing industry is undergoing exciting changes as it transitions to the widespread use of lower cost, mobile point of sale (mPOS) devices, NFC (Near Field Communications) and a mandate by governments, banks and major credit card companies globally that requires merchants to shift to more secure EMV-compliant payment processing systems," said Alex Walker, Kili's Co-Chief Executive Officer. "This spin-off will allow Dream Payments to concentrate on the development of merchant focused business solutions for this new market, while Kili continues to develop the low cost, high performance semiconductors, firmware and modules needed to support these new requirements."
Low Cost, Secure Systems
Dream Payments' initial offerings will enable merchants to accept payments using IOS and Android mobile devices at a much lower cost than traditional solutions. The company's cloud-based payment platform combined with its EMV-compliant mPOS device will allow merchants to accept credit and debit cards, including contactless and CHIP enabled payment cards, access analytics and reports, and provide digital receipts. For more information about Dream Payments please visit www.dreampayments.com.
Kili delivers certifiable solutions for payment processing, security access control, authentication, and secure Internet of Things (IoT). By integrating its patented technology into System on Chip (SoC) ICs, firmware, reference designs, IP and hardware modules, the company supplies the key components needed to build complete, highly secure, yet cost-effective payment systems.
Kili markets its chipset and related firmware to OEMs and component suppliers and licenses its security and communication IP to companies interested in integrating the technology into their silicon. The company also supplies all the necessary support for evaluation, integration, customization and certification.
About Kili Technology
Kili Technology Corporation develops cost effective, secure and certifiable solutions for payment processing based on its patented technology implemented in system-on-chip (SoC) ICs, firmware, reference designs, IP and hardware modules. This advanced technology, along with Kili's extensive experience in end applications, enables customers to get to market quickly with the lowest cost mobile and countertop solutions.
Kili is a divestiture of SecureKey, a leading identity and authentication provider, which initially developed Kili's core technology over the last five years. Kili Technology maintains offices in Toronto, Canada and San Carlos, California. For more information, visit the company's web site at www.kilicorp.com.
CONTACT: Media Contact: Matthew Quint Principal Quint PR for Kili Technology 650 218-0763 firstname.lastname@example.org
Source:Kili Technology Corp.