SIM card vendor Giesecke & Devrient (G&D) has announced a mobile wallet solution. The solution, called SmartTrust Portigo allows users to make debit and credit card payments using their smartphones.
It also enables them to store ID cards, loyalty cards, public transport tickets, and access keys for buildings and vehicles in the electronic wallet.
Customers can download a piece of software called the Wallet Client onto their Windows Phone, iOS, Android and Blackberry smartphone. The Wallet Client establishes a connection to a secure element, such as the SIM card or an embedded secure element in a handset, to the Wallet Manager, which is provided in the mobile network by the Wallet Issuer. This can be either an operator or a bank.
The Wallet Manager allows the Wallet Issuer to conveniently deploy services provided by NFC service providers, and supply them to their customers, who can download the relevant apps onto their smartphones.
G&D believes the solution will replace traditional wallets, claiming it is very easy to use and meets the most stringent security standards.
“The SmartTrust Portigo solution opens up a wide range of new opportunities for mobile network operators, banks, and other service providers to develop new mobile services as part of their individual brand strategies,” said Dr Klaus Vedder, group senior vice president at G&D.
With Amazon and Google launching smart home initiatives, have the telcos missed out on their chance to cash in on this market?
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