Gemalto (Euronext NL0000400653 GTO), the world leader in digital security and PROSA, one of the largest payment processors in Latin America, announce a partnership to bring mobile payments to Mexico.
PROSA has operations in eight Latin American countries and will provide mobile payment services to all customers, which include 95% of credit, debit and prepaid card issuers in Mexico. Gemalto's Allynis Trusted Service Hub (TSH) enables easy new customer onboarding, which allows banks to swiftly launch their own NFC mobile payment wallets utilizing host card emulation (HCE). Another important feature of Gemalto's TSH is its ability to provision payment wallets from device manufacturers and mobile network operators as they launch in Mexico.
In Mexico, 100% of domestic debit, credit and prepaid transactions are processed locally, with PROSA handling more than 50 percent of the transaction volume. Smartphone usage in the country is growing rapidly, up 40 percent in the second half of 2015 bringing the smartphone user base to more than 62 million devices. This solution, one of the first payment solutions of its kind in Mexico, will help banks get in front of the mobile wallet trend by delivering integrated mobile payments to their cardholders. PROSA will provide services for mobile wallet development, cardholder identification and verification, card digitization and secure delivery to the mobile device based on the TSH. In addition, PROSA will operate Gemalto's Tokenization Platform from its premises in Mexico, providing increased security in digital payments to reduce cross-channel fraud.
"Smartphones account for nearly 60 percent of mobile connections in Mexico and the country is experiencing major growth in the number of NFC-enabled POS terminals deployed at retail outlets and banks," said José Molina, PROSA's General Manager. "Gemalto's TSH provided us with a full turnkey solution that allows our banking partners to plug into the NFC infrastructure and roll out easy, secure mobile payment services to their customers, while benefiting from the cost efficiency and scale a world-class processor like PROSA can provide."
"Gemalto is committed to supporting PROSA, a key financial service provider, in effectively equipping a major portion of the Mexican market with mobile payment services," said Rodrigo Serna, President for Latin America at Gemalto. "Our Trusted Services Hub was designed to empower processors to continue to play a central role in digital transactions and accelerate mobile wallet deployments for their issuers."