Method, device, add-on and secure element for conducting a secured financial transaction on a device

An add-on for interaction with a mobile device, the add-on and the mobile device enabling conducting of a secured financial transaction, the add-on comprising:

• a contactless interface;
• a controller to control wireless communications between the add-on and the mobile device;
• a secure element;
• a processor configured to execute instructions which upon being executed causes:
• acquiring, via the contactless interface of the add-on, data associated with a payment apparatus, at least a portion of the data associated with the payment apparatus being solely accessible by the secure element;
• establishing, through a communication interface of at least one of a communication interface of the add-on or a communication interface of the mobile device, a secured communication channel between the secure element and a remote server;
• and
• sending over the secured communication channel, to the remote server, the at least a portion of the data associated with the payment apparatus so that a transaction authorization request may be processed.

A method of operating an add-on communicating with a mobile device for conducting financial transactions, the mobile device being configured to run a point of sale (POS) application, the mobile device comprising a central processing unit and a communication interface, the add-on comprising a contactless interface, a secure element and a controller to control wireless communications between the add-on and the mobile device, the method comprising:

• acquiring, via the contactless interface of the add-on, data associated with a payment apparatus, at least a portion of the data associated with the payment apparatus being solely accessible by the secure element;
• establishing, through a communication interface of at least one of a communication interface of the add-on or a communication interface of the mobile device, a secured communication channel between the secure element and a remote server;
• and
• sending over the secured communication channel, to the remote server, the at least a portion of the data associated with the payment apparatus so that a transaction authorization request may be processed.