Giesecke & Devrient (G&D), a global market leader in secure technologies, is serving as the Trusted Service Manager (TSM) for the Canadian Imperial Bank of Commerce (CIBC) in their offering of NFC credit card payment services to their customers.
G&D's TSM service will securely download and provision the CIBC Mobile Payment Application and the credentials required for contactless payment transactions using NFC-enabled smartphones, in line with global best practices for ensuring secure NFC transactions for consumers. The TSM service is managed from G&D's fully certified North American TSM datacenter located in Toronto, Ontario.
CIBC has launched its mobile payment solution in Canada, allowing Canadians to pay for small ticket items with their CIBC credit card at participating retailers using their NFC-enabled smartphone.
G&D's Service Provider TSM (SP TSM) solution, the NFC Service Manager, offers the required scalability and flexibility to deliver secure mobile contactless payment functionality for multiple payment associations across Canada. The TSM datacenter being used to support this functionality provides secure remote management of secure elements, applications and keys for the handling of credentials for payment transactions via a mobile device, as well as full end-to-end solutions for NFC, including issuance and lifecycle management. Collectively, these capabilities ensure that consumers can use NFC payments with confidence, knowing that all information used to process payments is managed securely
"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 Mobile Security and member of G&D's Management Board.