G&D providing TSM services for new Canadian NFC payment scheme

 
Dec. 12, 2012

Security company Giesecke & Devrient is bringing its trusted service manager (TSM) service to the Great White North. The company announced that it has been selected Canadian Imperial Bank of Commerce (CIBC) to provide TSM services as the FI implements NFC credit card payment services.

A TSM service provides the secure link between the mobile device, or at least the secure element within the device, and the financial partner in an NFC payment scheme. With G&D’s TSM service, users will be able to download, provision and pay using the newly released CIBC Mobile Payment Application on their mobile devices.

“Given our well-established relationships with Canadian banks and mobile network operators, G&D is uniquely positioned to fulfill the required role within the Canadian mobile NFC ecosystem as the trusted third party required to securely provision consumer credentials and payment applications,” said Michael Kuemmerle, group executive for mobile security and a member of G&D’s Management Board.

G&D said its TSM service will be managed from its TSM data center in Toronto.

CIBC recently launched its NFC-enabled mobile payment app with Canadian wireless carrier Rogers Communications.

For more stories on this topic, visit the Contactless/NFC research center.


Topics: Contactless / NFC , NFC , Technology Providers , Transaction Processing


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