US commercial bank Chase has announced that it has chosen digital security company Gemalto to provide its Trusted Service Management (TSM) technology for Chase´s mobile payments platform at Mobile World Congress 2012 in Barcelona this week.
The TSM technology will manage the credit and debit card data of Chase customers, validating authenticity and supporting information delivery. Gemalto will perform issuance, personalisation and lifecycle management.
With the TSM infrastructure integrated into Chase’s mobile payments platform, Chase will be able to load a digital version of a customer’s payment card into the customer’s mobile wallet in real-time. The customer will then be able to make transactions at near-field communication (NFC) enabled physical points of sale (POS) by tapping their mobile phone against the POS terminal.
“Contactless NFC technology has turned the handset into an electronic wallet, such that users can now access a wide range of services like payment, ticketing and loyalty programs using their phone,” says vice president of secure transactions at Gemalto Jack Jania. “We are providing the technology that will enable Chase card customers to download all their cards into their mobile phones.”
The Isis mobile wallet developed through AT&T Mobility, T-Mobile USA and Verizon Wireless will be the first to utilise this partnership.