Inside Secure (Paris:INSD), at the heart of security solutions for mobile and connected devices, announces that its complete mobile payment solution, Mobile Payment Server and Mobile Payment Client, has been selected by Banca Transilvania, a banking institution headquartered in Cluj-Napoca, Romania, for its new service, which is launching this week. Banca Transilvania has also chosen Inside Secure’s Code Protection Tool to protect its complete application, further evolving the companies’ partnership to end-to-end software protection, according to Business Wire.
Inside Secure’s fully-certified Mobile Payment Solution drastically cuts time-to-market for issuer banks who want to deploy their own-brand of mobile payment solutions. Issuer banks also have the flexibility to decide how to best serve their customers in mobile financial transactions.
Banca Transilvania is the first bank to go through the Visa Token Service (VTS) Token Requestor – Token Service Providers (TR-TSP) program and Inside Secure is the first TR-TSP to have guided a bank through this process. VTS is a security technology that replaces cardholder information with a unique digital identifier (token) that can be used for payment without exposing a cardholder’s more sensitive account information. Tokenization hides consumers’ confidential account information during digital transactions, making digital payments more secure for everyone, everywhere. The phone becomes a digital wallet, changing the shopping and money sending experiences of BT customers who own a Visa or MasterCard debit or credit card.
Banca Transilvania will simultaneously launch MasterCard Mobile Payments, leveraging Secure’s solution to rapidly deliver HCE payments for both schemes. The MasterCard implementation utilizes the MasterCard Digital Enablement Service (MDES) for tokenization.
Inside Secure is presently the only vendor to earn recertification for the full end-to-end solution with both Visa and MasterCard. The solution consists of its Mobile Payment Server to manage an Issuing bank’s ecosystem for delivering mobile payments to its customers, and its Mobile Payment Client which provides an SDK, easily integrated into mobile banking and wallet applications or a white-label mobile payment application.
“Through BT PAY app we want to offer our customers new experiences when shopping, sending money or checking their card transactions. The appetite of our bank customers for contactless shopping is growing, the increase being over 350 percent in December 2017 compared to December 2016. Also, every second means five transactions are made with one of our 20 offered cards. Launching BT Pay is a big step for the bank in order to provide digital services to its customers,” said Ömer Tetik, chief executive officer of Banca Transilvania.”
“We are excited to have worked with Banca Transilvania to complete the process of on-boarding Visa and MasterCard, and as our lead customer for the on-premise version of Mobile Payment Server,” said Simon Wilson-Blake, chief operating officer of Inside Secure. “We see great traction with banks who want to easily get to market with a highly-secure complete mobile payment solution and we expect to see additional banks and institutions come on board in the coming months.”
Read more HERE