G&D Chosen by CIBC as Trusted Service Manager for Mobile Payments in Canada

 G&D Chosen by CIBC as Trusted Service Manager for Mobile Payments in Canada

PR Newswire

MUNICH, Germany and Toronto, Canada, Dec. 12, 2012

MUNICH, Germany and Toronto, Canada, Dec. 12, 2012 /PRNewswire/ - Giesecke &
Devrient (G&D), a global market leader in secure technologies, is serving as
the Trusted Service Manager (TSM) for the Canadian Imperial Bank of Commerce
(CIBC) in their offering of NFC credit card payment services to their
customers. G&D's TSM service will securely download and provision the CIBC
Mobile Payment Application and the credentials required for contactless
payment transactions using NFC-enabled smartphones, in line with global best
practices for ensuring secure NFC transactions for consumers. The TSM service
is managed from G&D's fully certified North American TSM datacenter located in
Toronto, Ontario.

CIBC has launched its mobile payment solution in Canada, allowing Canadians to
pay for small ticket items with their CIBC credit card at participating
retailers using their NFC-enabled smartphone.

G&D's Service Provider TSM (SP TSM) solution, the NFC Service Managerâ„¢, offers
the required scalability and flexibility to deliver secure mobile contactless
payment functionality for multiple payment associations across Canada. The TSM
datacenter being used to support this functionality provides secure remote
management of secure elements, applications and keys for the handling of
credentials for payment transactions via a mobile device, as well as full
end-to-end solutions for NFC, including issuance and lifecycle management.
Collectively, these capabilities ensure that consumers can use NFC payments
with confidence, knowing that all information used to process payments is
managed securely.

"Given our well-established relationships with Canadian banks and mobile
network operators, G&D is uniquely positioned to fulfill the required role
within the Canadian mobile NFC ecosystem as the trusted third party required
to securely provision consumer credentials and payment applications," said
Michael Kuemmerle, Group Executive Mobile Security and member of G&D's
Management Board.

About Giesecke & Devrient
Giesecke & Devrient (G&D) is a leading international technology provider
headquartered in Munich, Germany. Founded in 1852, the Group has a workforce
of around 10,500 employees and generated sales exceeding EUR 1.64 billion in
fiscal 2011. 58 subsidiaries and joint ventures in 32 countries ensure
customer proximity worldwide.

Over 150 countries place their trust in G&D solutions when producing and
processing their banknotes. The company primarily supplies central and
commercial banks, cash-in-transit companies, and security printers with
innovative technologies that render the cash cycle efficient and secure. G&D
bank and SIM cards are used all over the world to make payments and telephone
calls. As an end-to-end provider of smartcard and mobile security solutions,
the Group develops and distributes hardware, software, and services to a
client base that includes banks, mobile network operators, transportation
companies, business enterprises, and original equipment manufacturers (OEMs).
Governments and public authorities turn to G&D for passport, ID card, and
border control systems, ensuring reliable identity verification right around
the globe. For more information, please visit: www.gi-de.com

SOURCE Giesecke & Devrient

Image with caption: "CIBC's mobile payment solution allows Canadians to pay
for small ticket items with their CIBC credit card at participating retailers
using their NFC-enabled smartphone. (CNW Group/Giesecke & Devrient)". Image
available at:
http://photos.newswire.ca/images/download/20121212_C8283_PHOTO_EN_21875.jpg

Contact:

Press Contact North America:
Lisa Pimentel
E-mail:Lisa.Pimentel@gi-de.com
Phone: +1 905 946 2808
 
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