Munich, July 9, 2015 â€“ Giesecke & Devrient (G&D) has been certified "Visa Ready" by Visa for Host Card Emulation (HCE) cloud based payment services. With the Visa Ready status, Visa ensures that technology and service providers develop and deploy products and services that are compatible with Visa's requirements. G&D's data center in Canada has received Visa Ready certification as a provider for cloud based payment services.
G&D's certification by Visa covers all core services for cloud based payments â€“ digital credential provisioning, key management for digital credential provisioning and token lifecycle management. G&D deploys its ConvegoÂ® CloudPay solution for the provision of cloud payment services to its banking customers worldwide. Convego CloudPay is compliant with the cloud based payment specifications from major payment schemes and provides a single service deployment for the issuers to offer mobile payments across the product portfolio to their customers.
Convego CloudPay consists of two main components â€“ CloudPay Server and CloudPay Client. The CloudPay Server provides an online interface to banks, furnishing the provisioning and life-cycle management of the bank's payment cards on the end users' HCE enabled smartphones. The CloudPay Client is a secure software library that is integrated into the bank's mobile application, providing a secure storage for the payment card data and payment engine to execute mobile payment transactions. The CloudPay Client implements state-of-the-art security mechanisms to protect the payment data stored on the mobile device.
"Meeting the 'Visa Ready' requirements sends a strong signal to our markets and customers that our Convego CloudPay solution is reliable, secure, flexible, and convenient to use. Adopting our platform makes it easy for financial service providers to offer smooth and secure mobile payment applications to their customers. Our platform can also be easily adapted to future market developments", explained Edgar Salib, Group Senior Vice President Financial Institutions division at G&D.