YES BANK Secures Mobile Payment Transactions with Data Encryption Solution from Gemalto

Gemalto announced that YES BANK, India’s fifth largest private sector bank, has deployed its SafeNet Network HSM to secure mobile payment transactions for millions of its customers under India’s recently implemented Unified Payments Interface (UPI).
 
YES BANK is a full service commercial bank that has acted as a front runner in deploying UPI, India’s next generation online payments solution, which enables all account holders to send and receive money from their smartphones with a single identifier – such as mobile number or virtual payments address – without entering any bank account information.
 
The SafeNet Network HSM (formerly SafeNet Luna SA HSM) provides strong end-to-end data security and encryption to protect user credential confidentiality and the private keys responsible for digital signing, thus establishing a secure root of trust for financial transactions throughout the UPI payment process.