MagicCube

What MagicCube does

MagicCube Inc. is a Santa Clara-based private cybersecurity and payments company founded in 2014 by Sam Shawki (CEO, ex-Visa Global Remote Payments head) and Nancy Zayed (CTO, ex-Apple, ex-Cisco). The company has built and patented the Software Defined Trust (SDT) platform, whose core primitive is the sTEE (Software Trusted Execution Environment) — a software-based emulation of a hardware secure element that delivers hardware-grade protection without physical chips. The architecture combines an in-app "Cube" SDK with a proprietary HSM-based miniCloud backend for compliance, key management, and over-the-air updates.

MagicCube monetizes its platform through software licensing and subscription/managed-service fees across four revenue streams: i-Accept Cloud platform licensing (API-based softPOS), i-Accept SDK and SoftPOS software licensing, managed miniCloud backend services, and professional/integration services. Pricing is quote-based with multi-year contracts; the company markets a 74.8% software savings versus hardware cost (e.g., $20M savings on 1M devices at $250 each over 3 years). Customers are primarily acquirers, payment service providers, retailers (SMB through big-box), card issuers and mobile wallet providers, OEMs, and government/defense/sovereign-state buyers.

The company sells through a hybrid model: direct enterprise field sales to acquiring banks and big-box retailers, a global channel partner network (NTT Data, ID Tech, Dojo, Handpoint, Cow Hills, YellowPepper, ACI Worldwide), exclusive North American OEM partnerships (Mobiwire, oona), and SDK/API self-service integration. MagicCube's first and only software TEE recognized by EMVCo (May 2019), its PCI-DSS Level 1 SP certification, and pre-certification by Visa, MasterCard, American Express, and Discover constitute the central regulatory moat. The company has raised approximately $25.7M+ in disclosed funding through six rounds from a mix of strategic (Visa, Verifone, NTT Data, Sony Innovation Fund, e& capital) and financial investors (Mosaik Partners, Bold Capital, Epic Ventures, ID Tech, CVentures).

Name

MagicCube

Legal name

MagicCube Inc.

Website

https://magiccube.co

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

MagicCube provides a patented software-based Trusted Execution Environment (sTEE) and Software Defined Trust (SDT) platform that delivers hardware-grade security for mobile payments, IoT, and digital identity — selling API-driven softPOS (i-Accept) and tokenization products to acquirers, merchants, OEMs, and governments globally.

Ownership category

akta.pro rank

Product category

Payment Security Software

NAICS

Security Systems Services (56162)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Key Management, Encryption & Secrets Management (KMS/HSM/Vault) (HDABAHAG)

Keywords

• Mobile payment security
• Software trusted execution
• Contactless payment acceptance
• Payment tokenization software
• IoT device security

Headquarters

HQ city

Santa Clara

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. i-Accept Cloud Platform Licensing: API-based software platform with pre-certified secure elements, ready-to-integrate components, and secure card-reading kernels. Commercial, scalable, secure, and compliant support for global large-scale deployments. Customers deploy new solutions to the market in days instead of months.
2. i-Accept SDK and SoftPOS Software Licensing: SDK and embedded softPOS software licensed to acquirers, payment service providers, and integrators. Calculator on website shows 74.8% software savings vs hardware cost (e.g., $20M savings on 1M devices over 3 years). Personalised commercial model provided on contact.
3. Professional Services & Integration Support: Engineering and Product teams provide implementation plans and support during initial integration, deployment, and scaling. Setup Support is one of the four key kit components alongside the Cube, miniCloud, and Assessment Kit.
4. Managed miniCloud Service: HSM-based on-premise or cloud-based backend service providing compliance, remote management, security, and connection to risk systems for deployed Cubes. Operates as a managed/recurring backend.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels10 records

Core offering

MagicCube sells the Software Defined Trust (SDT) platform — a patented software-based Trusted Execution Environment (sTEE/vTEE) that delivers hardware-grade security for mobile and IoT devices without physical secure elements. Its commercial product family includes i-Accept (SoftPOS/Tap-to-Phone contactless payment acceptance), i-Accept Cloud (API-driven cloud payment acceptance), MC Token Shield (PCI-DSS Level 1 tokenization), MC Screen Shield (PIN-on-Glass), and the miniCloud HSM-based backend, sold to acquirers, PSPs, retailers, IoT manufacturers, and government/defense customers.

Product overview

MagicCube sells a unified security platform branded Software Defined Trust (SDT), built on its proprietary sTEE / vTEE (Software / virtual Trusted Execution Environment) which simulates hardware-grade secure-element protections purely in software. On top of this foundation the company ships a modular product family: MC Token Shield secures mobile payment tokens and cardholder data (PCI-DSS Level 1 SP certified), MC Screen Shield provides secure PIN-on-Glass entry on consumer devices, i-Accept is the flagship Tap to Phone / SoftPOS product that turns any commercial device into a payment terminal accepting Visa, MasterCard, Amex, Discover, Apple Pay, Google Pay and Samsung Pay, and i-Accept Cloud exposes the same acceptance capability as an API-driven, cloud-native platform (composed of The Cube SDK for in-app integration and the miniCloud keystore/backend for key management) that connects merchants to acquirers, processors and PSPs without legacy terminal hardware.

Differentiator

Problem solved

Functional benefit

Brands

• i-Accept: MagicCube's software-based Tap to Phone / softPOS payment acceptance product that turns any consumer mobile device into a payment terminal without additional hardware.
• i-Accept Cloud
• MC Token Shield

Products and services

• Software Defined Trust (SDT) Platform
• sTEE / vTEE (Software Trusted Execution Environment)
• i-Accept (SoftPOS / Tap-to-Phone)
• i-Accept Cloud
• MC Token Shield
• MC Screen Shield (PIN-on-Glass)
• miniCloud

Quantifiable outcome

• 74.8% savings on software over hardware cost
• +5 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature8 records

Partnerships

16 partnerships are on record, tiered flagship, core and minor.

• VerifoneflagshipStrategic or Co-development Partner · 11 January 2026Verifone, a leading global payment solution provider, joined MagicCube's $10M funding round as a strategic investor and partnered with MagicCube to enhance secure digital commerce solutions. The $10M round's first close included Verifone as a strategic investor alongside Bold Capital, Mosaik Partners, and ID Tech.
• ACI WorldwideflagshipChannel Partner/ Reseller/ Distributor · 1 April 2023MagicCube partnered with ACI Worldwide (April 2023) to make its i-Accept softPOS platform available to small and mid-size merchants, less than a year after MagicCube offered the platform to big-box merchants.
• Mobiwire / MobiIoTflagshipOEM/ Whitelabel/ Licensing Partner · 14 January 2023Mobiwire Group, a global ODM player designing mobile phones and IoT terminals, partnered with MagicCube (NRF 2023, Jan 2023) on an exclusive North American SoftPOS/Tap-to-Pay basis, leveraging Mobiwire's NFC devices with front-top NFC placement. Combined solution accepts contactless payments from any major card brand and supports PIN-on-Glass.
• oona (Aava Mobile Oy)flagshipOEM/ Whitelabel/ Licensing Partner · 10 January 2023oona, a brand of Aava Mobile Oy and global provider of professional-grade enterprise tablets, partnered with MagicCube (Jan 2023) on an exclusive North American basis to integrate i-Accept Tap-to-Phone contactless payment solution on oona's enterprise-grade Android tablets with front-facing NFC antenna.
• ID TechcoreStrategic or Co-development Partner · 14 October 2021ID Tech is both a financial investor (participated in 2021 $15M round and 2026 $10M round) and a strategic technology partner. ID Tech and MagicCube formed a global partnership (June 2018) to bring hardware-free and PIN-on-Glass products to market, combining MagicCube's sTEE with ID Tech's POS peripherals.
• DojocoreChannel Partner/ Reseller/ Distributor · 17 May 2021MagicCube and Dojo offer contactless mobile PIN payments for U.K. and Irish merchants (May 2021). Dojo integrates i-Accept to convert Android devices into mobile POS terminals.
• HandpointcoreChannel Partner/ Reseller/ Distributor · 9 March 2021Handpoint, a pioneer in integrated payments and next-generation POS, partnered with MagicCube (March 2021) to deliver TAP+PIN on phones as part of its Integrated Payments Suite.
• Visa Inc.flagshipStrategic or Co-development Partner · 24 August 2020Visa is both a strategic investor and a deep technology partner. MagicCube announced a strategic investment from Visa in 2020 as part of a large funding round. Visa issued a security compliance allowance for i-Accept (Dec 2020). i-Accept is certified by Visa, MasterCard, American Express, and Discover. Visa previously invested in 2015.
• American Express, Discover, MastercardflagshipStrategic or Co-development Partner · 24 August 2020MagicCube's i-Accept is supported and certified by American Express, Discover, Mastercard, and Visa as a model for retailers to adapt to contactless environments. Elizabeth Karl (VP payments consulting, Amex) and Mary Kay Bowman (global head of buyer/seller solutions, Visa) have publicly endorsed the platform.
• Cow Hills BVminorChannel Partner/ Reseller/ Distributor · 26 June 2019MagicCube and Cow Hills BV partnered (June 2019) to enable progressive retailers to accept payments without dedicated terminals using sTEE platform.
• NTT DataflagshipStrategic or Co-development Partner · 3 June 2019NTT Data is both a financial investor and a strategic partner. The partnership (announced June 3, 2019) will offer MagicCube's PIN-on-Glass technology to merchants in Japan and accelerate PCI certification for joint customers. Formed to secure next-generation payments, acceptance, and PCI certification for joint customers.
• YellowPeppercoreStrategic or Co-development Partner · 26 July 2017Latin American mobile payment provider YellowPepper partnered with MagicCube (July 2017) to bring a complete software solution protecting token-based mobile and connected devices to Latin America and the Caribbean. The partnership enables storage and protection of high-value credentials without hardware dependence.
• SequentcoreTechnology or Integration · 5 February 2017MagicCube and Sequent struck a partnership (Feb 2017) to secure mobile and other connected devices. Sequent integrates sTEE to deliver "the scale of a software-based security solution while rivaling the protection of legacy hardware-based security technologies."
• Shift4coreStrategic or Co-development PartnerShift4 is listed among MagicCube's investors on the oona press release and About page. Shift4 is a major payment processing company.
• BrightsightminorImplementation/ SI/ Consulting PartnerBrightsight, a security evaluation lab, issued the first ever EMVCo SBMP security evaluation certificate to MagicCube in May 2019.
• PCI Security Standards CouncilcoreOthersMagicCube is the first startup appointed to the PCI Security Standards Council Board of Advisors (2021-2022). CTO/co-founder Nancy Zayed sits on the board. MagicCube also joined the PCI Security Standards Council (Oct 2017).

Scale indicators12 records

Recent moves6 records

Expansion highlights7 records

Broad incumbents

• Stripe Terminal: Stripe Terminal offers integrated in-person payment acceptance (hardware + software) for platforms and merchants. Stripe has launched Tap to Pay on Phone capabilities that compete directly with MagicCube's i-Accept for platforms that want to embed payment acceptance in their own applications.
• PayPal (Zettle): PayPal's Zettle division competes directly with MagicCube in SoftPOS / Tap to Phone for SMB merchants. PayPal combines a much larger payments network and balance sheet with Zettle's hardware/software offering, while MagicCube supplies the certified SoftPOS layer to acquirers and PSPs that compete with PayPal.
• Adyen: Adyen is a global payments platform that processes card transactions for large merchants and has launched its own Tap to Pay / mobile acceptance solution. Adyen competes with MagicCube's i-Accept Cloud at the acquiring platform level, offering merchants a fully integrated acceptance stack.
• Ingenico (Worldline): Ingenico, now part of Worldline, is one of the largest payment terminal manufacturers globally and a MagicCube competitor in SoftPOS / Tap to Phone solutions. Like Verifone, it has deep acquirer relationships and is expanding from hardware into software-defined acceptance, overlapping with MagicCube's i-Accept target market.
• Verifone: Verifone is both a strategic investor in MagicCube and the dominant global payment terminal OEM. Verifone has been actively expanding into software/SoftPOS offerings, making it simultaneously a distribution partner and a direct competitor for SoftPOS software layers serving acquirers and merchants.
• Block (Square): Block's Square division is one of the largest SoftPOS and mobile payment acceptance platforms globally. While Block targets SMBs directly with hardware and software bundles, MagicCube competes as the underlying software stack serving acquirers and PSPs that want a hardware-free Tap to Phone product.

Emerging players

• Trustonic: Trustonic is a TEE / device-security vendor providing hardware-based Trusted Execution Environments for mobile payments, automotive, and IoT. While Trustonic's technology is hardware-anchored (TEE OS in secure elements) and MagicCube's is software-defined, both target similar developer ecosystems for in-app payment and digital key protection.

Others

• Zimperium: Zimperium provides mobile threat defense and runtime application self-protection (RASP) for mobile apps. While MagicCube's sTEE protects sensitive payment logic and credentials inside apps, Zimperium focuses on detecting device-level threats—making them adjacent rather than directly competing technologies.
• Lookout: Lookout is a mobile security platform focused on threat detection, mobile endpoint protection, and zero-trust security for enterprises. While MagicCube and Lookout both target securing mobile and IoT endpoints, MagicCube's specialization in payment acceptance and credential protection differs from Lookout's general mobile security posture.

Direct peers

• SumUp: SumUp is a direct SoftPOS competitor offering mobile payment acceptance on consumer smartphones across Europe and globally. Both MagicCube's i-Accept and SumUp's product pursue the same end-merchant opportunity of replacing dedicated payment terminals with software running on COTS devices.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MagiC3inc
• LinkedInlinkedin.com/company/magiccube

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds6 records

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MagicCube