Future Banking – It is all about securing payments!

Technology has taken payment cards out of your wallet and into the cloud. One example of this is Giesecke+Devrient’s (G+D) Convego® CloudPay Suite, which combines the real and virtual worlds of payments.

The Convego^® CloudPay Suite integrates and consolidates payments via mobile devices, wearables and cards to manage credentials across all channels and support all payment technologies and brands.

Host Card Emulation (HCE) allows payment credentials to be managed by a cloud service, and instead of needing hardware – known as a secure element – to be embedded in a payment device such as a mobile phone, payment cards can be downloaded from the cloud to HCE‐supported mobile devices, secured by software on the phone. In essence, HCE enables the emulation of a payment card by an application running on a mobile device.

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