SolarisBank turns to SIA to power contactless debit in Germany

German banking platform solarisBank will work with electronic payment processor SIA to launch new contactless debit cards for its customers and develop more digital payment services.

Milan, Italy-based SIA says its technology platform will now manage the processing of transactions made using payment cards issued by fintech company solarisBank, which operates with a full banking license.

The infrastructure supports the launch of new NFC debit cards, which will include services for risk management, fraud prevention, disputes and chargebacks. The platform includes the upgraded 3-D Secure authentication tool for all online transactions and soon the possibility for card owners to manage the configuration of their cards online.

“The agreement with solarisBank represents a further confirmation of our role as a trusted technology partner in Germany, where we have already realized significant projects with major financial institutions,” Cristina Astore, director of SIA’s International Division, said in a Sept. 6 press release. “We are certain that the proven competence in the payments system and e-money sector, together with the innovation that has always characterized SIA, are a perfect match for solarisBank’s banking platform profile.”

SIA also plans to provide solarisBank with payment cards in other currencies and the ability to issue cards in various countries.

Last month, SIA expanded its popular Jiffy person-to-person payment application as an option to use at retail locations through Milan, Rome and Turin in Italy.