March 27, 2014
One of Brazil's largest banks, Bradesco and Mobile network operator Claro are working together to launch an NFC based mobile payments program beginning in Sao Paulo, during the second half of 2014. They will be collaborating with Giesecke & Devrient to provide the service at over 200,000 terminals across the country.
'By adopting mobile payment services based on NFC technology, Brazil is setting the course for all of Latin America,' said G&D’s, Carsten Ahrens. 'We are delighted at the chance to furnish both our partners with a secure, overall concept. G&D describes the deployment as the first commercial project of its kind in Latin America.
Giesecke & Devrient is also providing the TSM (Trusted Service Manager) solutions to both Bradesco and Claro. The TSM solution allows users to receive Bradesco account holders’ payment card information on their devices in an encrypted form through Claro’s mobile network.