Dave Savastano02.20.14
Giesecke & Devrient (G&D) is providing its secure software platform to the Commonwealth Bank of Australia (CBA), the country’s largest financial institution to enable secure contactless payment transactions with the Samsung Galaxy S4 smartphone. In its capacity as trusted service manager (TSM), G&D will handle personalization of the virtual credit card installed in the smartphone and manage the card along its entire life cycle.
G&D and CBA are set to make contactless payment transactions by smartphone a wide-scale phenomenon in Australia. Customers of Australia’s biggest bank can now make MasterCard PayPass payments at more than 220,000 contactless terminals in Australia – and at a further 1.6 million sales outlets worldwide – by simply holding their Samsung Galaxy S4 smartphone against the payment terminal. For the first time ever, the payment app is safely stored on a secure element (SE) built into the smartphone. G&D’s task is to manage the payment app provided by the SE. That covers everything from personalization through to the deletion of personal data.
“After the success achieved with our first mobile payment project for the iPhone 4 and iPhone 4s in 2012, CBA is again relying on our expertise in this field. By deploying the technology in another flagship smartphone, CBA is enabling an even larger number of its customers to make cashless payments by mobile phone,” said Uli Klink, managing director at Giesecke & Devrient Australasia Pty. Ltd.
G&D and CBA are set to make contactless payment transactions by smartphone a wide-scale phenomenon in Australia. Customers of Australia’s biggest bank can now make MasterCard PayPass payments at more than 220,000 contactless terminals in Australia – and at a further 1.6 million sales outlets worldwide – by simply holding their Samsung Galaxy S4 smartphone against the payment terminal. For the first time ever, the payment app is safely stored on a secure element (SE) built into the smartphone. G&D’s task is to manage the payment app provided by the SE. That covers everything from personalization through to the deletion of personal data.
“After the success achieved with our first mobile payment project for the iPhone 4 and iPhone 4s in 2012, CBA is again relying on our expertise in this field. By deploying the technology in another flagship smartphone, CBA is enabling an even larger number of its customers to make cashless payments by mobile phone,” said Uli Klink, managing director at Giesecke & Devrient Australasia Pty. Ltd.