BankTech

NFC comes to 27 Taiwanese Banks for Payments Services via Gemalto

MEDICI

Gemalto is securing the NFC payment services in Taiwan recently launched by Taiwan Mobile Payment Co. (TWMP). Known for its digital security solution, Gemalto would be using its Allynis Trusted Services Hub (TSH) for the implementation. TWMP is a mobile payments joint venture formed by three prominent banking groups in Taiwan. The three groups cover all of Taiwan’s ATM, check and credit card transactions. TSH would act not only as an aggregation service for banks but would eventually bring secure provisioning of payment credentials to users’ devices.

27 banks in Taiwan have already signed up for the TSH service in order to launch their NFC payment services. Gemalto is also working with major operators to further extend NFC services across the Asia-Pacific region. In Taiwan, TWMP would leverage TSH in order to accelerate the deployment of mobile contactless services. TSH would help provide a single connection for secure distribution and management of diverse applications.

The adoption by multiple banks in Taiwan would enable end-users to use their mobile wallets for mobile banking. Moreover, they would be able to use their phones to make contactless payments for goods and services across 30,000 terminals such as convenience stores, retailers and even taxis.

"Taiwan is rapidly moving towards becoming a cashless society," said Pan Wei-Jong, President of TWMP, in an official press release. "TWMP's TSH is a one-stop solution that reduces deployment complexities and upfront costs by allowing banks to avoid multiple individual arrangements. This enables our participating banks to easily plug into the infrastructure and offer secure NFC services for a wide range of customers."

"With major banks and operators launching mobile NFC services in Taiwan, the country is all set for mass adoption,” said Suzanne Tong-Li, President for Greater China and Korea at Gemalto, in an official press release. "Our open access, future-proof TSH will enable TWMP to play the role of a trusted third party, bridging different kinds of services on a common platform for maximum market reach."

Gemalto’s trusted services are gaining popularity in other regions as well. The company recently bagged the contract for commercial rollout of Valyou. Valyou is Norway’s first mobile NFC payment service jointly developed by Telenor, DNB and SpareBank 1. Innovations by Gemalto are enabling clients to offer trusted and convenient digital services to billions of individuals. Gemalto is thriving with the growing number of people using its solutions to interact with the digital and wireless world.

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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