Giesecke & Devrient’s CloudPay Solution Joins with MasterCard
MasterCard and Giesecke & Devrient (G&D) announced they are combining the MasterCard Digital Enablement Service (MDES) with G&D’s Convego CloudPay solutions, allowing issuers to work with G&D to bring tokenization technology to their Host Card Emulation (HCE) wallets. This will enable issuers to deliver seamless and secure contactless mobile payment experiences to consumers.
G&D is the first third-party company to offer MDES tokenization services to banks.
“We have pioneered mobile commerce innovations for years. Alongside G&D, we’re delivering a simple and secure digital payment experience that takes advantage of industry-standard tokenization technology,” said Sherri Haymond, senior vice president, Digital Payments & Labs at MasterCard.
G&D’s Convego CloudPay solution will interface with MDES to allow issuers to offer secure mobile payment solutions at contactless POS terminals. MasterCard cardholders can use their credit, debit and select prepaid and small business cards to make convenient, safe in-store payments.
“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,” said Edgar Salib, group senior vice president, Financial Institutions division at G&D. “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.”