CPI Card Group, a global leader in financial and EMV chip card production and related services, announced today the launch of CPIMobile™, an innovative solution to deliver secure digital credentials to mobile phones for NFC mobile payments using Sequent technology.
Sequent will enable CPI to deliver to global banks and other issuers a digital issuance solution that allows them to participate in almost any mobile wallet deployment, leveraging both Secure Element (SE) and Host Card Emulation (HCE) capabilities, and to enable their own banking apps for payments.
“Banks globally want to be ready to provide secure mobile payment services that cover 100 percent of their customer base, regardless of the underlying technology, and to participate or launch mobile wallets with any partner in any geography,” said Steve Montross, president and CEO of CPI Card Group. “Over the past years, CPI has worked with Sequent on defining a value proposition and product vision to meet these needs. We are confident that we now have a flexible and adaptable solution to provide our customers the choice for any card, any technology and any app through Sequent.”
CPIMobile enables bank issuers to participate in all mobile wallet deployments by provisioning credit and debit cards to both cloud-based HCE with tokenization as well as UICC and embedded secure element technologies. CPI will utilize Sequent’s patented and commercially deployed Digital Issuance (SP-TSM) solution, a PCI- and EMV-compliant platform for over-the-air provisioning of cards to mobile devices.
“Banks need the assurance that the new innovative systems that will enable their business growth moving forward will meet their most stringent security requirements, and be integrated seamlessly into their key existing systems,” said Robb Duffield, Sequent CEO. “Sequent is excited to work with a global leader such as CPI to bridge this gap and bring the benefits of mobile payments to leading banks and millions of consumers.”
CPIMobile is also leveraging Sequent’s patented Open Wallet Platform APIs to allow banking apps to become wallets of their own by accessing cards in secure sme wallets of their own by accessing cards in secure storage to make NFC mobile payments. Banks can also provide the same API functionality to merchants and other partners and distribute payment cards to multiple apps. Ultimately, whether a consumer prefers to pay with their banking app or from their favorite coffee shop app, CPIMobile will make it possible using the same issuer credentials.
“The Sequent platform covers all strategic directions a bank wants to follow in mobile payments and we are excited that CPI is well positioned with a strong, competitive solution as the payments market continues to evolve,” concluded Montross.