Giesecke & Devrient (G&D) is integrating its Convego CloudPay solution with Visa Token Service (VTS). G&D’s Convego CloudPay solution provides provisioning and life-cycle management services for payment applications on HCE (Host Card Emulation) enabled mobile devices.
The relationship with Visa allows G&D to request and provide payment tokens from VTS to Visa issuers’ HCE mobile wallets.
Visa Token Service is a new security technology that replaces sensitive payment account information found on payment cards, such as the 16-digit account number, expiration date and security code, with a unique digital identifier that can be used to process payments without exposing actual account details.
Visa Token Service provides an industry standard EMVCo-compliant service for the generation, life-cycle management and processing of payment tokens. Through the connection to VTS, G&D can enable the payment card tokenization in the provisioning and life-cycle management services that G&D CloudPay solution provides to the issuers’ HCE mobile wallets.
As digital payments are increasing worldwide, the mobile channel has become a major focus for the issuers and other stakeholders for the development of new payment services to consumers. The relationship between Visa and G&D enables financial institutions to develop and offer their own mobile wallets, with issuer’s own brand on top of the wallet, to their customers.
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