Sequent, a provider of digital issuance and mobile wallet platform as-a-service, and Arxan Technologies, a provider of application protection solutions, this past week announced a strategic partnership to deliver secure mobile payments for financial institutions and other organizations deploying mobile payment products.

Sequent and Arxan are combining their security technologies in a new product that protects Host Card Emulation-based payment service deployments from threats, according to a press release.

"As a recognized leader in mobile payment security, Sequent maintains the highest level of security in all our products, giving organizations peace of mind when deploying cloud-based HCE mobile payments in global markets," Lance Johnson, chief security officer at Sequent, said in a statement. "By combining Arxan's technology with our PCI and EMV compliant products, we can deliver an industry-leading, software-based security equivalent to a secure element that organizations can use to secure sensitive cardholder data and tokens stored in smart phone memory."