G+D Mobile security enables German Savings Banks Finance Group to provide mobile payment

The German Savings Banks Finance Group will launch a mobile payment solution in 2018. The Mobile Payment solution has been developed by S-Payment, a subsidiary of the Deutscher Sparkassen Verlag (DSV) group. Prior to the commercial launch next year, a mobile payment pilot program with ten issuing Savings Banks went live in September. With this pilot, the Savings Banks will test the functionality, operations and user-experience of the end-to-end mobile payment solution. In the nation-wide commercial phase, girocard mobile (girocard is the most used payment card in Germany) and other schemes will be supported. G+D Mobile Security supports the mobile payment project by providing token aggregation as a managed service and the mobile wallet.

The pilot program will enable selected banks’ personnel to make mobile payments with Mastercard credit products. The program started on 11th September 2017 and is planned to run for two months. G+D Mobile Security connects the Savings Banks with the Mastercard tokenization services MDES (Mastercard Digital Enablement Service) and enables the related token aggregation service.

“G+D Mobile Security is proud to support the Savings Banks Finance Group in their ground-breaking roll-out of mobile payment”, commented Dr. Carsten Wengel, Head of the EMEA Region at G+D Mobile Security. “The pilot program is unique in such way that G+D Mobile Security enables S-Payment to provide this service to the Savings Banks  selected for the pilot with minimum efforts per bank.”

Pilot users will have a wallet app in their smart phone. After registration and authentication, the selected Mastercard credit card will be tokenized using G+D Mobile Security’s Convego CloudPay service connected with MDES.  Convego CloudPay manages the Over-the-Air provisioning of the virtual card (token) to the consumer wallet and can support any subsequent life-cycle management requirements. Immediately after this short process, users can make mobile payments at any contactless POS terminal supporting Mastercard.

Source: Giesecke & Devrient

Tags: , , ,

Categories: Mobile Payments

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