Implementing mobile payment service in conjunction with G&D Giesecke & Devrient next year
Rabobank, one of the largest financial institutions in the Netherlands, is collaborating with Giesecke & Devrient (G&D) in the launch of a commercial mobile payment solution.
The cooperation between Rabobank and G&D will enable consumers to have contactless payment products available in smartphones that support near field communication (NFC) technology. The launch of the mobile payment solution is targeted in the Netherlands for 2014.
For the first time in the Netherlands, consumers will be able to use their smartphones in this commercial mobile payment project based on NFC technology. Rabobank and Giesecke & Devrient have already started their collaboration, and in 2014 customers will be able to pay using their smartphones via NFC in all stores equipped with contactless point of sale terminals.
'As Rabobank we see a steep increase in the use of smartphones for payments in the Netherlands. We already have more daily users of mobile banking than we have for internet banking. We plan to follow our customers in these developments and want to focus on smartphone developments as in mobile NFC payments,' said Jeroen Verrijdt, director of payments and savings at Rabobank Nederland.
Rabobank customers will be able to apply for mobile payment cards online and will receive the mobile payment card directly to their smartphone conveniently and securely, thanks to a fully integrated service infrastructure between the partners.
G&D is supplying Rabobank with its Trusted Service Manager (TSM) solution as a managed service, which enables the secure provision of payment card information to consumers' smartphones over the air (OTA), as well as complete lifecycle management of the payment card.
Added Florian Reithmeier, group senior vice president for mobile security at Giesecke & Devrient: 'Momentum for the NFC-based mobile payment solution is growing fast now that the contactless payment infrastructure is being deployed globally as well as within the Netherlands. Rabobank is spearheading this evolution, and we are very proud to support them on this project. What makes the approach at Rabobank exceptionally interesting is their clear commitment to a broad market introduction in the Netherlands, combined with advanced online processes that guarantee a user friendly experience.'