MasterCard has collaborated with mobile payment provider Giesecke & Devrient (G&D) to offer consumers access to digital payments provided directly by their card issuers.
Under the partnership, MasterCard Digital Enablement Service (MDES) will be integrated with G&D’s Convego CloudPay solution. This will help issuers work directly with G&D to offer tokenisation technology for their issuer HCE wallets.
The partnership makes G&D the first third-party company to provide MDES tokenisation services to issuing banks.
G&D’s Convego CloudPay solution with an interface to MDES will help the company work with issuers to offer seamless mobile payment at contactless point of sale terminals.
This can be done by offering the provisioning process of payment credentials to the mobile device and subsequent life-cycle management services, following which MasterCard users can make in-store payments via their credit, debit and select prepaid and small business cards.
G&D group senior vice president, Financial Institutions division, Edgar Salib said: "This combined solution of MasterCard and G&D benefits all MasterCard issuing banks. Our cooperation with MasterCard enables us to provide the safety and security of MasterCard digitized credentials while meeting the payment credential provisioning and management needs of issuers.
"As a global offering, we can offer the service for issuing banks that want to enable their own digital wallets in all countries where MDES is available."