New, secure and user-friendly mobile payments solution for de Volksbank in the Netherlands.
G+D Mobile Security has launched another Convego CloudPay solution as the company continues to expand its range of mobile payments solutions for banks. In the latest implementation G+D has partnered with the Dutch bank de Volksbank to offer user-friendly and secure mobile payment for de Volksbank customers who have Mastercard or Visa cards in their wallets. Carsten Ahrens, CEO of G+D Mobile Security, explained: “G+D Mobile Security operates a service integrating and connecting de Volksbank and its wallet to the token services of the payment schemes. We are pioneering a project where both Mastercard and Visa token services are enabled for the bank’s HCE wallet at the same time.”
The rapid migration to mobile devices and the importance of managing the security challenges this brings
As users increasingly want to be able to conduct their banking services through their mobile devices, this solution is likely to gain a lot of usage among the Dutch bank’s customers. Convenience and flexibility are of utmost importance for consumers today, and solutions that are able to provide such benefits in a clear, efficient and timely manner will be quickly adopted by consumers. G+D Mobile Security is very conscious of the rapid migration of banking customers to mobile devices for almost everything. While making it easy for the consumers to apply and use new mobile services, there is an increasing need for underlying security.
We are pioneering a project where both Mastercard and Visa token services are enabled for the bank’s HCE wallet.
Carsten Ahrens, CEO G+D Mobile Security
A fundamental part of this security is the digital identity we all have nowadays and especially how to ensure that this is managed securely. Carsten Ahrens noted: “Digital identity is the key to transparency and trust in the connected world, and trust is the hard currency of the future.” To this end, “All identities, connections, transactions, data integrity and privacy must be optimally managed and protected at all times. And this is what we do also with Convego CloudPay.”
How the mobile payment solution works and how it can make our lives easier
Using the G+D Convego CloudPay solution, de Volksbank can offer its customers a mobile payment application available for Android phones. This de Volksbank mobile wallet supports Mastercard and Visa debit cards issued by the bank. When de Volksbank customers opt in for mobile payments, they select one of their existing cards, approve terms and conditions and trigger the process. G+D Mobile Security’s Convego CloudPay receives this request via de Volksbank, and with the online connection to Mastercard and Visa, Convego CloudPay requests a so-called token from either of the payment schemes. Once the token is received from the respective payment scheme it will be delivered securely over-the-air by the G+D Convego CloudPay service to the mobile phone of the customer.
All this happens in a few seconds, and immediately afterwards the user can pay with this mobile payment card at any contactless-enabled POS (point of sale) terminal. The service that G+D Mobile Security has implemented together with de Volksbank supporting both Mastercard and Visa token services is one of the first in the world. As most of the banks issue various payment brands beyond Mastercard and Visa, Convego CloudPay can enable quick-time to market in a cost-effective way for such banks. The benefit to consumers will be that they can sign up for the service with a few clicks, select any card that they prefer, and receive and start using the mobile card immediately. After this consumers don’t necessarily need to carry the physical payment card anymore, but just tap and pay with their mobile phone.
Mobile payment is easy, fast and convenient – powered by G+D Convego CloudPay