Gemalto Offering Software To Support Mobile PayPass

March 31, 2011, 7:32 a.m. EDT 1 Min Read

Processing Content

Gemalto NV is offering a software package for MasterCard Worldwide’s PayPass contactless payment system, the chip maker announced March 30.

The software enables users to create PIN codes on their phones that serve as a verification method at the point of sale, the Amsterdam-based company said in a news release.

“This new certification from MasterCard … will enable banks and wireless operators to offer a secure, innovative and convenient payment means to their entire customer base,” Jean-Claude Deturche, Gemalto’s senior vice-president of mobile financial solutions, said in the release.

Gemalto has taken other steps to improve its capabilities for mobile payments. In January, it announced its participation in a Near Field Communication payment pilot in Japan that launched in the first quarter of the year (see story).

The company said it is working with SoftBank Corp., a Japanese telecommunication and media company.

MORE FROM AMERICAN BANKER

Cyber security

Deutsche Bank, ING among targets of phishing kit for novices

Part of the growing "phishing-as-a-service" economy, the Spiderman kit offers novice hackers sophisticated tools to target customers of major EU institutions.

By Carter Pape

December 12
Consumer banking

Young bank customers are more satisfied than seniors: Survey

Banks may need to offer people over the age of 65 more than just digital experiences, according to an executive at J.D. Power, which surveyed more than 11,000 retail banking customers.

By Catherine Leffert

December 12
Artificial intelligence

Trump executive order seeks to gut state AI laws

In a move some industry observers call "dangerous and irresponsible," the administration is taking down consumer protection guardrails that have been put up by states like California and Colorado.

By Penny Crosman

December 12
Industry News

Democratic AGs hire former CFPB Director Chopra

Rohit Chopra is named senior advisor to the Democratic Attorneys General Association's working group on consumer protection and affordability; Flagstar Bank adds additional wealth-planning capabilities to its private banking division; Chime promotes three members of its executive leadership team; and more in this week's banking news roundup.

By Editorial Staff

December 12
Regulation and compliance

OCC grants national trust charters to five crypto firms

The Office of the Comptroller of the Currency Friday approved national trust charter applications for five crypto firms, affirming the administration's push to allow crypto companies the ability to take deposits.

By Ebrima Santos Sanneh

December 12
Federal Reserve

Fed's Goolsbee, Schmid lay out case for interest rate pause

Kansas City Federal Reserve President Jeffrey Schmid and Chicago Fed President Austan Goolsbee said in statements Friday that their dissents from this week's interest rate decision were spurred by inflation concerns and a lack of sufficient economic data.

By Maria Volkova

December 12