Worlds most secure mobile payment app as promulgated by The university of Oxford, will hit the istore soon.
OxCept is 100% software based and uses high-grade cryptography that has been tested by the Ministry of Defence to protect transactions and recieved over £1m of funding from the UK and US militaries.
Perry M Anderson, CEO of the spin-off company - also named OxCept - said the technology used by the app is protected by defendable patents and sets the app apart from competitors.
He said the app is a "new way of securing financial transactions, that will fundamentally change the mobile payment sector."
"Given the size of the mobile payment market and its accelerating growth rate, I feel this to be a very timely and relevant security solution," he added.
The technology behind the app has been in development for five years and has been subjected to peer review from other universities.
The company hasn't disclosed as yet when it will be launching, or what pricing will be involved in downloading and using the service.