02.21.17
With its digital banking services Convego Hub and Convego CloudPay, its consumer-centric services such as Convego Issuance, its mobile application platform Convego AppWorld, and its digital identity and authentication services, Giesecke & Devrient (G&D) is one of the leading players in the market for digital banking. At MWC 2017, G&D presents its comprehensive solutions to provide the complete end-to-end identity management for financial institutions, enabling convenient and secure mobile payment.
Banking business and payment is driven by the digital transformation, which means the transformation from cash to card to mobiles and wearables. While today still the main part of the billions of payment transactions is done by cash or cards, the number of wearables and mobile devices used for contactless payments is significantly increasing.
Juniper Research estimates the number of mobile payment users will increase from about 148 million in 2016 to 936 million users in 2021. In addition, the volume of transactions handled by wearables will grow from $3.1 billion in 2016 to $501 billion in 2021 (Source: Tractica). To support this trend both highest security and user friendliness are key.
G&D’s mobile wallet gives users easy and secure access to all bank services. It’s where virtual credit cards are made available, and where consumers can execute transactions or request bank statements. But it’s also a staging area where banks can offer mobile payments for things like parking fees and public transport, as well as exclusive services created in cooperation with partners such as retail chains.
With Convego Hub, G&D builds a bridge between the real and virtual payment worlds. It provides financial institutions as well as manufacturers of wearables, mobile devices and other third-party wallet providers with secure and flexible payment functionality.
G&D’s digital banking service hub can be customized to all brands. International payment schemes including Mastercard, Visa, and American Express are supported. It offers state-of-the-art security on mobile devices, enables fast provisioning in under 10 seconds, and immediate payment execution.
The Convego CloudPay solution from G&D supports various international payment schemes and has capabilities also to support domestic schemes. It consists of two main components: CloudPay Server and CloudPay Client.
Remote payments are a further growing market segment supported by G&D. Once consumers have their payment credentials securely and conveniently stored on their phone or wearable, mobile remote payments are possible.
Banking business and payment is driven by the digital transformation, which means the transformation from cash to card to mobiles and wearables. While today still the main part of the billions of payment transactions is done by cash or cards, the number of wearables and mobile devices used for contactless payments is significantly increasing.
Juniper Research estimates the number of mobile payment users will increase from about 148 million in 2016 to 936 million users in 2021. In addition, the volume of transactions handled by wearables will grow from $3.1 billion in 2016 to $501 billion in 2021 (Source: Tractica). To support this trend both highest security and user friendliness are key.
G&D’s mobile wallet gives users easy and secure access to all bank services. It’s where virtual credit cards are made available, and where consumers can execute transactions or request bank statements. But it’s also a staging area where banks can offer mobile payments for things like parking fees and public transport, as well as exclusive services created in cooperation with partners such as retail chains.
With Convego Hub, G&D builds a bridge between the real and virtual payment worlds. It provides financial institutions as well as manufacturers of wearables, mobile devices and other third-party wallet providers with secure and flexible payment functionality.
G&D’s digital banking service hub can be customized to all brands. International payment schemes including Mastercard, Visa, and American Express are supported. It offers state-of-the-art security on mobile devices, enables fast provisioning in under 10 seconds, and immediate payment execution.
The Convego CloudPay solution from G&D supports various international payment schemes and has capabilities also to support domestic schemes. It consists of two main components: CloudPay Server and CloudPay Client.
Remote payments are a further growing market segment supported by G&D. Once consumers have their payment credentials securely and conveniently stored on their phone or wearable, mobile remote payments are possible.