Rabobank pioneers commercial mobile payment, partners G&D in Netherlands

DigitalSENSE Business News:

Utrecht-Munich based Rabobank, one of the largest financial institutions in the Netherlands, is collaborating with Giesecke & Devrient (G&D) in the launch of a commercial mobile payment solution.

DigitalSENSE Business News gathered that the cooperation between Rabobank and G&D will enable consumers to have contactless payment products available in smartphones that support Near Field Communication (NFC) technology. The launch of the mobile payment solution is targeted in the Netherlands for 2014.

Director Payments and Savings at Rabobank Nederland, Jeroen Verrijdt, confirmed that for the first time in the Netherlands, consumers could use their smartphones in this commercial mobile payment project based on NFC technology.

Rabobank and Giesecke & Devrient also have already started their collaboration, and in 2014 customers will be able to pay using their smartphones via NFC in all stores equipped with contactless point-of-sales terminals.

Rabobank customers can apply for the mobile payment cards online and will receive their mobile payment card directly to their smartphone conveniently and securely, thanks to a fully integrated service infrastructure between Rabobank and G&D.

G&D is supplying Rabobank with its Trusted Service Manager (TSM) solution as a managed service, which enables the secure provision of payment card information to consumers’ smartphones Over-the-Air (OTA), as well as complete and versatile life-cycle management of the payment card.

“As Rabobank we see a steep increase in the use of smartphones for payments in the Netherlands. We already have more daily users of mobile banking than we have for internet banking. We plan to follow our customers in these developments and want to focus on smartphone developments as in mobile NFC payments,” Jeroen Verrijdt said.

Stressing that momentum for the NFC-based mobile payment solution is growing fast now that the contactless payment infrastructure is being deployed globally as well as within the Netherlands.

Florian Reithmeier, Group Senior Vice President Mobile Security at Giesecke & Devrient nted that Rabobank is spearheading this evolution, and is very proud to support them on this project.

“What makes the approach at Rabobank exceptionally interesting is their clear commitment to a broad market introduction in the Netherlands, combined with advanced online processes that guarantee a user-friendly experience,” Reithmeier explained.

Ayo Omidele/GEE
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