Sequent, one of the world’s leading providers of tokenization services, and TIS, part of TIS INTEC Group based in Japan and a leading payments solution provider, have entered into a strategic partnership to provide next generation secure mobile payment solutions to businesses and consumers in the Japan, ASEAN, and China markets. The two companies announced a strategic investment by TIS in Sequent as part of the Sequent Series C investment round in June 2017.
Sequent and TIS are deploying a mobile card tokenization service leveraging Sequent Platform™ which will enable TIS to service its customers with a range of highly secure mobile payment and access applications and solutions. These solutions and applications will change the way bank cardholders make purchases and access services from their smartphones and other connected devices. The partnership combines Sequent expertise in next generation tokenization technology with the long-standing payment operations expertise and depth of resources of TIS.
“Asian markets have led the world in mobile services consumption and are poised to accelerate the adoption of NFC and in-app purchase transactions,” said Fred Thiel, Sequent Chairman of the Board. “We are pleased and honored to have the opportunity to partner with TIS to bring new mobile experiences to markets where TIS has a wealth of experience.”
“We are hoping to combine the advanced technology of Sequent with the strengths of our retail payment solutions and services. We intend to create advancing synergies for our customers in Japan but also in the ASEAN and China regions,” comments Isao Otokita, Division Manager of Solution of Payments Division of TIS.